New Delhi: In an unambiguous message to the United States, India said it will announce final details of its Bilateral Trade Agreement (BTA) only after Washington agrees to offer preferential tariff terms over New Delhi’s competitors.
“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,” Union Commerce & Industry minister Piyush Goyal said while addressing a national workshop on Leveraging FTAs Outreach program.
Goyal had said earlier India is in a “very sweet” spot.
“Our approach is that India should get preferential access, market access and have the best deal compared to any of our competitors, any other emerging economy or developing economy. We are sitting in a very sweet spot,” the minister said.
Despite negotiations being almost complete, a senior US official had told Reuters last month that the trade deal between the US and India could take another three to four months to be formalised.
The official had said the agreement was ready, and the delay was linked to Washington’s ongoing trade investigations.
President Donald Trump and Prime Minister Narendra Modi had announced in February 2025 that the US and India have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).