Trade Deal
India-US trade deal almost done! Piyush Goyal hints at breakthrough
New Delhi/IBNS: Union Commerce and Industry Minister Piyush Goyal on Thursday said the proposed trade agreement between India and the United States has entered its final stage, with most key issues having been resolved.
Speaking at the NDTV Indo-Japan Strategic Dialogue, Goyal said, "We don't see any difficulties with the US."
He added that "concessions and other elements have largely been finalised."
The minister said the US administration has understood India's consistent demand for preferential market access to ensure the country remains competitive vis-à-vis other trading partners.
Goyal also said the US is working on an alternative mechanism to help India retain its competitive advantage after the US Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA).
On India's trade ties with the UK, Goyal announced that the India-UK Free Trade Agreement (FTA) will come into effect on July 15.
He added that the legal review of the agreement is expected to be completed within the next two weeks.
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