Overview
- Commerce minister Piyush Goyal said on Sept. 3 that India will finalise the Bilateral Trade Agreement only when the United States gives Indian goods a preferential tariff rate versus competing exporters.
- The two governments agreed an interim framework in February but the pact remains unsigned after US policy moves, including a 10% tariff applied from July 24 and related legal shifts, altered the tariff basis discussed earlier.
- Goyal will travel to the United States in late September for the G20 Trade Ministerial in Milwaukee and is expected to press USTR Jamieson Greer and other officials for clear, competitive tariff terms.
- New Delhi is expanding a network of FTAs it says already covers about two‑thirds of global trade and is pursuing a $1 trillion export target, arguing tariff parity with rivals such as Bangladesh and Vietnam is essential for price competitiveness.
- India says sensitive domestic sectors remain protected under the interim deal and warns US investigatory or legal actions on tariffs could reshape any final concessions, with immediate effects for textiles, MSMEs and labour‑intensive exporters.