Trade deal details being finalised; agri, dairy sectors protected: Goyal

Addressing a press conference, Goyal said India secured more favourable terms than several comparable countries that have entered into trade arrangements with the United States

Union Minister for Commerce and Industry Piyush Goyal said on Tuesday that India and the United States (US) will issue a joint statement shortly after the technical process for the bilateral trade deal is finalised.

 

Addressing a press conference, Goyal said India has ensured that its sensitive sectors, such as agriculture and dairy, are protected.

 

He added that India has secured more favourable terms than several comparable countries that have entered into trade arrangements with the US.

Trade negotiations and sector safeguards

Goyal said India negotiated the agreement over several months amid reciprocal tariffs that affected multiple sectors. “Our industries were under pressure, including agriculture, marine exports, and textiles,” he said, adding that India emerged with a better outcome than its competitors.

 

 

Responding to concerns raised about the impact of the deal on agriculture and dairy, Goyal said, “We have secured our agriculture and dairy sectors.”

Impact on industries and MSMEs

The minister said the agreement is expected to benefit labour-intensive industries and manufacturing. “This trade deal will benefit MSMEs, SMEs, engineering manufacturing, textiles, and marine goods. It will create several opportunities,” he said.

Goyal credits PM Modi

Goyal said the agreement was finalised late on Monday. “This trade deal was finalised last night. I thank Prime Minister Modi on behalf of the 1.4 billion people of India,” he said.

 

He added, “Today, everyone in the country is thanking Prime Minister Modi for this deal. This agreement was much-awaited and has been done in the public interest.”

Opposition walkout in Parliament

Goyal’s remarks came shortly after members of several Opposition parties staged a walkout from the Rajya Sabha, demanding a discussion on the Indo-US trade deal. The government accused the Opposition of expressing frustration rather than engaging in debate.

 

Earlier in the day, Opposition members walked out when Goyal was scheduled to speak in Parliament about the agreement.

Political exchanges over the deal

Goyal said he intended to present details of the agreement in Parliament but criticised the Opposition’s conduct. “I wanted to speak about it in Parliament, but we all saw how the Opposition, under the leadership of Rahul Gandhi, behaved. I condemn this act,” he said.

 

He accused Rahul Gandhi of misrepresenting the agreement. “Rahul Gandhi is trying to mislead people on this trade deal. He is not interested in the country’s development,” Goyal said.

 

All Opposition members, except the Trinamool Congress, later staged a walkout in protest.

 

When asked why US President Donald Trump announced the deal first, Goyal said, “They had imposed tariffs on us, so it was expected that they would announce it first.”

 

Earlier in the day, Rahul Gandhi said Prime Minister Narendra Modi agreed to the deal under pressure.