New Delhi, Oct. 15 -- Commerce and Industry Minister Piyush Goyal on Thursday said the first phase of the India-US trade pact has been finalised and is undergoing legal drafting.

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

"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 comparable advantage or competitive advantage over our peer countries," Goyal said here at the SRCC Centenary Conclave.

The minister added that his comments on the US-India pact "are consistent ...