India, US still discussing competitive advantage aspect of trade deal, says New Delhi

Although the trade deal between India and the United States was “ready” to be signed, the countries were discussing a comparative advantage for New Delhi over competing economies, Commerce Secretary Rajesh Agrawal was quoted as saying by The Hindu on Monday.

“The framework deal is ready, and whenever it is the right time, it will be signed,” Agrawal reportedly said at a press briefing. “We are just waiting. Because deals are about comparative advantage.”

The commerce secretary added: “When you do a deal, you get preferential market access in India and India gets preferential market access in that market.”

He said that the aspect of these preferences over some competitors “is getting structured”. “Whenever it is ready, the deal will get signed,” The Hindu quoted Agrawal as saying.

Earlier in the day, Union Commerce Minister Piyush Goyal rejected a Reuters report that India had declined a quick trade agreement with the US during talks in June and was holding out for a better deal.

Reuters quoted an unidentified Indian government official as saying that the trade deal had not been signed because Washington had not assured New Delhi on its key demands.

The demands included a tariff advantage over competitors such as China and a commitment that the US would not impose fresh levies after the agreement.

“Our position is clear,” the news agency...

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