India says US trade deal will start once it gets an edge over rival exporters

Commerce and Industry Minister Piyush Goyal said India expects the first tranche of its Bilateral Trade Agreement (BTA) with the United States to come into force once Washington ensures India enjoys a tariff advantage over competing exporters in neighbouring countries and the ASEAN region.Speaking on Thursday, Goyal said India would continue to leverage opportunities in the US market “as long as we have a comparative advantage on comparable duties.” India and the US had announced the proposed BTA in a joint statement on February 7, 2026.On investigations launched by the US Trade Representative (USTR) under Section 301 of the US Trade Act, Goyal said India had participated in the proceedings. He noted that the US has already imposed a 10% tariff following its probe into forced labour, while another investigation into excess capacity is underway.Asked about reports that the US could impose tariffs on imports linked to Russian oil, Goyal declined to comment, describing the matter as speculative.The minister also said the legal review of the India-European Union free trade agreement is nearing completion. Once finalised, the agreement will be sent to the European Parliament and other relevant institutions within the 27-member bloc for approval.Following a meeting with Export Promotion Councils, Goyal said exporters were optimistic about India’s free trade agreements with Oman and the UK, which provide zero-duty access for Indian exports to both markets.

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