India-US trade agreement hinges on tariff edge ove...

Summary

• The first phase of the India-US trade agreement is complete and now in legal drafting, Commerce Minister Piyush Goyal said in New Delhi on Thursday.
• Gor praises pace of India-US trade agreement talksEarlier on Thursday, US Ambassador to India Sergio Gor said the two governments had ticked off the biggest items on their checklist.
• Even so, officials on both sides still have to finish the legal text of the India-US trade agreement.

AI Generated Summary

The first phase of the India-US trade agreement is complete and now in legal drafting, Commerce Minister Piyush Goyal said in New Delhi on Thursday.

Goyal, the Commerce and Industry Minister, made the remarks at the opening of the SRCC Centenary Conclave. He voiced hope that both sides could wrap up the text and bring it into force soon.

Still, he attached a clear condition. India would operationalise the pact “once we get the competitive advantage over our peer countries,” he said.

In plain terms, New Delhi wants US tariffs on its goods to be lower than those facing competing exporters.

Gor praises pace of India-US trade agreement talks

Earlier on Thursday, US Ambassador to India Sergio Gor said the two governments had ticked off the biggest items on their checklist. He called the speed of the talks “incredible.”