India-U.S. trade deal tranche still awaits final drafting

India and the United States have not yet completed or put into effect the first tranche of their trade agreement, despite Commerce Minister Piyush Goyal describing it as finalised in principle. Goyal said final contours and legal drafting remain, and implementation would follow once India’s competitive advantage over peer countries is clear. Speaking at an event in Delhi on October 15, Goyal said the tranche was going through final drafting and that the countries hoped to complete that work soon. He said the agreement would be operationalised once India had a comparable or competitive advantage over its peers. He did not give a signing or implementation date. Commerce Secretary Rajesh Agrawal also described the discussions as being in a good zone. He said the parties anticipated closing and signing the deal at the earliest possible time, but that U.S. work on the tariff structure was proceeding in parallel. Progress toward signing would depend in part on outcomes under Section 301, he said, with the timing to be agreed by both sides. The officials’ remarks indicate that work remains before the first tranche can be signed and take effect.