India, June 26 -- Commerce and Industry Minister Piyush Goyal on Thursday said that the trade pact with the US is "very close", but it cannot come into force unless India secures a competitive tariff advantage over its competitor nations.

"The day that happens, the deal is on," he said here at the India Global Forum (IGF) UK-India Week event.

Goyal is here on a three-day official visit to discuss issues related to the implementation of the India-UK free trade agreement.

The minister held two-day talks with US Trade Representative Jamieson Greer in New Delhi this week on the first phase of the India-US bilateral trade agreement (BTA).

However, a statement by the commerce ministry gave no indication that all differences were resolved ah...