India’s trade pact with the US awaits tariff competitiveness restoration for its first phase. Minister Piyush Goyal stated India needs a comparative advantage over rival nations. This condition must be met before the bilateral trade agreement can commence. Meanwhile, a US legislative proposal could impose tariffs on Russian energy buyers. India has increased its Russian crude oil purchases amid supply disruptions.India’s trade pact with the US awaits tariff competitiveness restoration for its first phase. Minister Piyush Goyal stated India needs a comparative advantage over rival nations. This condition must be met before the bilateral trade agreement can commence. Meanwhile, a US legislative proposal could impose tariffs on Russian energy buyers. India has increased its Russian crude oil purchases amid supply disruptions.
