New Delhi: Union Commerce and Industry Minister Piyush Goyal said the India–US bilateral trade agreement will be finalised after the United States extends tariff concessions that are favourable to India.
India and the US have been holding negotiations for the pact, but a comprehensive agreement has not yet been signed. Officials from both sides are continuing discussions to close the remaining issues, with the deal described as 99% complete.
Goyal said India would announce the details once the US is ready to offer tariff rates that compare favourably with those given to India’s trade competitors.
He also highlighted India’s broader trade agenda, stating that nine free trade agreements would provide preferential access to nearly two-thirds of global trade. He added that upcoming efforts include FTAs with countries such as Canada, Mexico and Chile, along with reviews of existing agreements with ASEAN, Korea and Japan.
According to the minister, a trade agreement with New Zealand is expected to come into force soon, followed by a free trade agreement with the 27-nation European Union. He noted that India has already implemented trade agreements with the UK, Mauritius, Oman, the UAE and Australia.
