Commerce and Industry Minister Piyush Goyal on Thursday (October 15, 2026) said the first phase of the India-U.S. trade pact has been finalised and is undergoing legal drafting.

He expressed hope that it would be finalised soon and operationalised once India secures a competitive advantage over its peer countries.

"U.S. 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," Mr. Goyal said here at an event.

He also said that the free trade agreement between India and the European Union will be inked in December and will come into force from February or March next year.