India-US trade pact first phase finalised, legal drafting under way, says Piyush Goyal

The first phase of the India-US trade pact has been finalised and is now going through legal drafting, even as both sides signal that a wider agreement is close.Commerce and Industry Minister Piyush Goyal said on Thursday that the aim is to complete the first phase soon. It will be put into effect once India secures a competitive advantage over its peer countries, he added."US bilateral trade agreement's first tranche has been finalised and it is going through final contours, the legal drafting and we hope to be able to finalise that soon and operationalise that once we get the competitive advantage over our peer countries," Goyal said at an event in the national capital.