India–US trade deal’s first phase enters legal drafting

Dragon Media Newsroom

The first phase of a proposed trade deal between India and the United States is in the final stages of legal drafting, Indian officials said. Commerce and Industry Minister Piyush Goyal said on Thursday that the text was being refined and that New Delhi hoped to finalise it soon.

India wants its exporters to receive tariff terms at least as favourable as those offered to competitors such as Bangladesh, Vietnam and Indonesia in the US market. Trade Secretary Rajesh Agrawal said India was seeking better market access and greater tariff stability.

The initial understanding is not yet a completed or operational agreement. Its terms will depend on the final text and the completion of the legal process.