India, Feb. 20 -- A bilateral deal with an immense global twist. It involves competition from Bangladesh, and an economic counter to Pakistan, apart from the concerns of the local cotton growers. The impact of the India-US trade deal encompasses issues related to industry, agriculture, and bilateral and global trade. This is most evident in the case of textile exports from, and cotton imports into, India. Couple this with rising, or lower competition in the export arena from two of India's neighbours. There is excitement, panic, worries, and confusion. Each side speaks different languages, including the trade deal negotiators.

Earlier this month, panic gripped India's textile and apparel exporters who had begun to celebrate the interim t...