Piyush Goyal Praises India-US Trade Agreement in Parliament, Highlights ‘Safeguarded Agriculture and Dairy’
Union Commerce and Industry Minister Piyush Goyal recently defended the India-US bilateral trade agreement during a session in the Lok Sabha. He emphasized that India has successfully protected its sensitive sectors, particularly agriculture and dairy, following nearly a year of negotiations. Goyal highlighted the ongoing discussions since Prime Minister Narendra Modi’s visit to the United States in February 2025, aiming for a balanced and mutually beneficial trade deal.
Successful Negotiations Over a Year
Minister Goyal outlined the extensive negotiations that took place between India and the United States, which spanned approximately one year. He noted that both countries engaged in multiple rounds of discussions to finalize various aspects of the trade agreement. Goyal stated that it was essential for both nations to safeguard their critical interests while striving for the best possible outcomes. The minister expressed confidence that the finalized agreement would bolster India’s flagship initiatives, including Viksit Bharat, Atmanirbhar Bharat, Make in India, and Design in India. He also mentioned that the deal would enhance the export competitiveness of Indian exporters and create opportunities for skilled professionals and micro, small, and medium enterprises (MSMEs) in the US market.
Tariff Reductions and Competitive Edge
During the discussions, Goyal referred to a recent conversation between Prime Minister Modi and US President Donald Trump, which took place on February 2, 2026. Following this call, Trump announced a reduction in tariffs on Indian goods from 25 percent to 18 percent. Goyal emphasized that this new tariff rate is lower than those imposed on several competing nations, providing India with a competitive edge in the US market. He reiterated the Indian government’s commitment to energy security as a top priority, asserting that the agreement effectively balances the interests of both countries while protecting India’s core sectors.
Positive Reactions from Leaders
The announcement of the trade deal has garnered positive reactions from both Indian and US leaders. President Trump shared the news on his social media platform, Truth Social, stating that India and the US have reached an agreement on the trade deal. In response, Prime Minister Modi expressed his gratitude to Trump for the reduced tariffs, highlighting the benefits of cooperation between the two largest democracies. Modi’s acknowledgment emphasized the potential for unlocking immense opportunities through mutual collaboration, reinforcing the significance of the trade agreement for both nations.
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