Sensitive Agri, Dairy Sectors Protected Under India-US Trade Deal, Says Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal in a press briefing on Tuesday revealed that the India-US trade deal will protect the interest of dairy and agriculture sectors. The minister stated that sensitive agricultural products and the dairy sector have been kept protected under the India–US trade deal, reflecting the government’s stance that market access concessions will not come at the cost of domestic farmers or food security.

“PM Modi has always taken care of the concerns of the agriculture and dairy sectors. We have never compromised on the interests of farmers or those linked to the dairy sector,” Goyal said.

The minister also revealed that the deal in in the final stages of detailing and both countries will release a join statement soon, along with the details.

The deal will bring a lot of opportunities for “India's economic growth and for our farmers, poor, fishermen, women and youth,” he added.

Goyal further stated that this trade deal is the best agreement India has secured compared to its neighbouring and competing countries. He added that India’s negotiating team had been in continuous dialogue with their US counterparts for several months to reach the agreement.

“We all know that the Prime Minister, leveraging his friendly relationship and close ties with President Trump, has finalised a trade deal with the US… that is the best deal India has received compared to all our neighbours, surrounding countries, and those that compete with us. This is a great deal for all of us,” he said.

Goyal on US Announcing the Deal

Goyal clarified that the United States announced the development first because it had earlier imposed reciprocal tariffs and was now lowering them. Since the tariffs were being reduced, it was natural for President Donald Trump to communicate the decision, he said.

“they had levied reciprocal tariffs and they had to lower it so it is natural since they had to lower tariffs President Trump had to inform it,” he said.

“I want to thank President Donald Trump, who respected Prime Minister Modi’s friendship. Going forward, India–US ties will continue to improve,” Goyal added. He said the trade deal would further strengthen bilateral relations and ensure a bright future for both countries, describing the agreement as an important step forward for India’s long-term growth.

India-US Trade Deal

On Monday, US President Donald Trump announced that the tariffs on India have been reduced to 18% and that Washington has sealed the trade deal with New Delhi.

This comes after in August, the US imposed sweeping 50% tariffs on India, including a 25% punitive tariff owing to its purchase of Russian energy. According to Trump's claims, India has agreed to stop purchases of Russian oil and will diversify its oil import supply from the US and potential Venezuelan crude, prompting the rollback of the punitive tariffs.

After nine long months, divergent economic interests and several rounds of talks, the India-US trade deal has materialised.