Swaminathan Aiyar in an interview to ET Now noted that calling the trade agreement “historic” would be an exaggeration. However, in the current global scenario where protectionist measures are on the rise, any initiative toward liberalising trade is certainly welcome. Trade barriers are increasing not just in the USA but globally, and India too has occasionally retaliated with its own measures. In this context, a meaningful liberalisation pact is a positive step.