&imwidth=800&imheight=600&format=webp&quality=medium "‘As soon as we get preferential tariffs...’: India’s key condition for trade deal with US")
India has made it clear that it will not rush to close its trade agreement with the United States unless Indian exporters get a stronger tariff advantage over businesses from competing countries.
Commerce and Industry Minister Piyush Goyal said on Thursday that New Delhi was waiting for Washington to offer preferential tariff treatment before finalising the Bilateral Trade Agreement (BTA).
"As soon as the US is able to give us the preferential rate in comparison to our competition, we will finalise the BTA and announce the final details," Goyal said while speaking at a national workshop under the Leveraging FTAs Outreach programme.
The minister's remarks highlight India's focus on securing competitive market access for its exporters rather than simply lowering tariffs under the proposed deal.
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India wants better terms for exporters
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Goyal said the value of a trade agreement depends on how effectively it helps domestic companies compete in international markets.
India has particularly faced a disadvantage in sectors such as textiles, where exporters from countries such as Bangladesh and Vietnam enjoy preferential tariff access in several key markets.
The proposed India-US agreement covers a broad range of areas, including tariffs and market access, digital trade, non-tariff barriers, supply chains and cooperation in strategic sectors.
The negotiations gained momentum earlier this year after India and the US announced a framework for an interim agreement on reciprocal and mutually beneficial trade in February.
US Trade Representative Ambassador Jamieson Greer visited New Delhi from June 22 to 24 and held discussions with Goyal on the key elements of the proposed deal. The two sides reviewed progress on market access, digital trade, supply-chain resilience and non-tariff barriers.
Both countries said their negotiating teams had made substantial progress and reiterated their aim of reaching a balanced agreement with meaningful commercial benefits.
The scale of the relationship has also raised the stakes in the negotiations. India's goods exports to the US stood at $103.82 billion in 2025, while US goods exports to India were around $45.6 billion. Bilateral goods trade between the two countries totalled $149.42 billion during the year.
