India, US Near Completion of First Phase of Trade Agreement
Speaking in New Delhi on Monday, Piyush Goyal said negotiators have resolved nearly all key issues after both countries unveiled the framework for the deal earlier this year.
“All the major points have been settled. US Ambassador to India Sergio Gor said that 99% of the deal is ready. Small commas and full stops are being discussed,” he said.
Goyal expressed confidence that the remaining matters would be addressed quickly, allowing both sides to complete the initial stage of the agreement in the near future.
The comments came as a US delegation arrived in India to continue trade discussions aimed at bringing the negotiations to a conclusion.
According to reports, India's Foreign Ministry said last week that visiting US officials would help advance the talks, adding: “So far, we've had a positive and constructive engagement.”
Goyal also noted that negotiators are reviewing how recent legal amendments introduced in the United States should be incorporated into the final text of the agreement.
"The legal changes that were made in the US during the finalization of the deal, how to reflect them in the final agreement, how to make changes according to it, I am confident that we will finish the first tranche of the bilateral trade agreement with the US as soon as possible," he said.
Reports indicate that both countries are now focused on resolving the remaining technical and legal details before formally concluding the first segment of the trade pact.
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