US trade deal finalised, legal drafting on: Piyush Goyal
Indian Commerce Minister Piyush Goyal confirmed that the first tranche of a bilateral trade deal with the US has been finalized and is currently undergoing legal drafting. Despite conflicting reports from other officials, both Indian and US representatives expressed confidence that the agreement is nearing completion.
Why it matters
A finalized trade deal between the world's two largest democracies would significantly impact global supply chains and economic relations between the US and India.
NEW DELHI: Seeking to end uncertainty over the trade deal with the US, commerce and industry minister Piyush Goyal Thursday said the agreement has been finalised and is undergoing legal drafting.“US bilateral trade agreement’s first tranche has been finalised and it is going through final contours, the legal drafting, and we hope to be able to finalise that soon and operationalise that once we get the comparable advantage or competitive advantage over our peer countries,” he said at an event.The minister later told reporters that his comments on the US-India pact are “consistent” throughout. “What I’ve said yesterday is exactly what I said a week ago and what I said three months ago.
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