India-US Trade Deal Hinges on Preferential Tariff Terms

India will finalize its bilateral trade agreement with the United States only when Washington offers tariff terms that give Indian exporters a competitive advantage over rival nations, Commerce and Industry Minister Piyush Goyal said on Thursday. The announcement signals that the final details of the pact, which has been under negotiation for months, remain contingent on the U.S. providing preferential rates compared to those available to India's competitors in the American market. Speaking at a national workshop on leveraging free trade agreements in New Delhi, Goyal stated that India is prepared to conclude the agreement once the necessary tariff conditions are met. "As soon as the US is able to give us the preferential rate in comparison to our competition, we will finalise the BTA and announce the final details," he said. The minister emphasized that India has secured favorable terms in sensitive sectors such as agriculture, fisheries, and micro, small, and medium enterprises. The trade deal has been in a state of flux following significant shifts in U.S. tariff policy. An interim agreement reached on February 2 was set to reduce U.S.