India to activate US trade pact only after securing competitive edge

Commerce and Industry Minister Piyush Goyal on Thursday said the initial tranche of the India-US bilateral trade agreement has been finalised and is undergoing final legal formulations. Speaking at an event, Goyal indicated that the government aims to complete the legal drafting process soon, with operationalisation contingent on India securing a competitive edge relative to competing nations. "The first tranche of the US bilateral trade agreement has been finalised and is going through final contours and legal drafting. We hope to finalise that soon and operationalise it once we get the competitive advantage over our peer countries," the minister said. The phased approach suggests New Delhi is taking a cautious stance on the trade pact, ensuring domestic industries are adequately positioned before full implementation. Meanwhile, Goyal also announced that India's free trade agreement with the European Union is scheduled to be signed in December, with the pact expected to take effect from February or March next year. The EU trade agreement represents another significant step in India's broader strategy to expand bilateral economic engagement with major global economies.