‘No deal until …’: India draws red line on US trade pact

Speaking on the ongoing negotiations, Goyal said discussions with Washington are now focused on creating a framework that gives India a competitive edge in the US market, according to Reuters.

India will not enter into the proposed bilateral trade agreement with the United States until a framework ensuring a comparative tariff advantage for Indian exports over competing countries is finalised, Commerce and Industry Minister Piyush Goyal said on Monday.Speaking on the ongoing negotiations, Goyal said discussions with Washington are now focused on creating a framework that gives India a competitive edge over peers, according to Reuters.“We cannot enter a deal with the U.S. until the framework of having a comparative advantage is finalised,” Goyal said, adding “India and the United States are very ‌close ⁠to ⁠finalising a trade deal”.The minister said India and the US had agreed on the broad contours of the trade pact on February 6, and negotiating teams from both countries have been working since then on the finer details.“India-U.S. deal was done on Feb. 6 and teams [have been] working since then on finer details,” he said.Goyal added that discussions are underway on the legal and policy mechanisms through which Washington can provide India with that competitive advantage.“Discussions are on about how U.S. finds appropriate tools and legal backing to give India a competitive advantage,” he said.