India, Sept. 3 -- The bilateral trade agreement between India and the United States will be finalised once Washington offers the preferential rate, said union commerce and industry minister Piyush Goyal on Thursday.

Speaking to reporters, the union minister added that the deal will be announced after the US offers India the proper terms, compared to other competitors.

"As soon as the US is able to give us the preferential rate, in comparison to our competition, we will finalise the BTA and announce the final details," Goyal was quoted as saying by news agency PTI at a workshop on free trade agreements.

Goyal's remarks also come in light of India signing a series of historic trade pacts with the UK, Oman, the United Arab Emirates, Austr...