THEBUSINESSBYTES BUREAU
NEW DELHI, JULY 29, 2026
The first tranche of the proposed India-United States
Bilateral Trade Agreement (BTA) will come into force once Washington ensures
that Indian products enjoy a comparative advantage over competing nations,
Commerce and Industry Minister Piyush Goyal said on Wednesday, reaffirming New
Delhi's confidence in the landmark trade deal announced earlier this year.
Addressing reporters in the national capital, Goyal said the
agreement, unveiled by the leaders of both countries on February 3, was built
on the principle of creating a level playing field for Indian exports in the
American market. He stressed that the pact would become operational as soon as
the United States restores the conditions that provide India with a competitive
edge over rival exporting nations.
"I have categorically and on several occasions expressed
the confidence that what we have finalized with the US as the first tranche of
the bilateral trade agreement, which was announced by our leaders on the 3rd of
February, will come into operation as soon as the United States is able to
ensure that we get a comparative advantage over our competitors, the countries
in our neighbourhood, the countries in the ASEAN region and other countries
with whom we compete," Goyal said.
He explained that securing favourable tariff treatment
vis-à-vis competing economies remains the cornerstone of the first phase of the
BTA. According to the minister, once this foundation is re-established, the
agreement will be ready for implementation, paving the way for stronger
bilateral trade ties.
Expressing optimism over India's export prospects, Goyal said
the country's shipments to the US would continue to expand as long as Indian
exporters enjoy either a comparative advantage or tariff rates comparable to
those of competing countries.
"For us, as long as we have comparative advantage or
comparable duties, I think India will continue to grow its exports and continue
to leverage the large U.S. opportunity," he said.
The minister also noted that India had participated in the Office of the United States Trade Representative's Section 301 investigations concerning forced labour-related issues. Under that probe, the US has imposed a 10 per cent tariff on India.
Goyal's remarks come at a time when both nations are working to deepen economic engagement and conclude the first phase of the bilateral trade agreement, which is expected to enhance market access, boost exports and further strengthen the strategic trade partnership between the world's largest and fastest-growing major economies.
