No US deal until India gets competitive advantage: Minister Piyush Goyal

Mangalore Today News Network

New Delhi, Jun 26, 2026: Trade deal between India and the US would not be signed until Washington offers competitive advantage to Indian exporters, Commerce and Industry Minister Piyush Goyal said on Thursday.

Speaking at an event in London, Goyal said, “An FTA is basically about getting a comparative advantage over your competitors.”

“We obviously must have some reason to be able to enter into force that agreement which we have already agreed upon,” the minister said, referring to the framework for an interim trade deal announced by India and the US through a joint statement in February.

Goyal said as part of the trade deal, the US should offer India some competitive advantage over what is being given to countries like Vietnam, Thailand, the Philippines, Indonesia, Malaysia, China, Bangladesh, Sri Lanka, and other neighbouring countries.

“Until the framework of getting that competitive advantage is finalised we cannot enter into force a US deal,” he said.

“That’s broadly the discussion on how the US should find the appropriate tools and legal backing to give us that competitive advantage over our competition. The day that happens the deal is on,” he added.

The minister’s comment came just a day after he held multiple rounds of discussions with US Trade Representative Jamieson Greer to finalise the deal. 

Under the framework for an interim deal released on February 7, the US offered to reduce reciprocal tariffs on Indian exports from 25% to 18%. But the US Supreme Court’s February 20 ruling invalidated the reciprocal tariff regime.

With the US Supreme Court striking down Trump’s sweeping tariffs and now with the additional temporary levy getting expired on July 24, we obviously must have some reason to be able to enter into force that agreement which we have already agreed upon. - Piyush Goyal, Commerce and Industry Minister