Core sensitivities in food, agriculture ‘fully safeguarded’ in India-US trade deal: Goyal

NEW DELHI, Feb 4: The government on Wednesday assured Parliament that the country’s core sensitivities in food and agriculture have been fully safeguarded in the India-US trade deal, and the pact will enhance export competitiveness in the American market.
Commerce and Industry Minister Piyush Goyal made a statement on the trade deal first in the Lok Sabha and later in the Rajya Sabha amid disruptions by opposition MPs, who sought clarifications but were not allowed by the Chair.
Several opposition parties had been asking the government to make a statement in Parliament following the announcement of the deal by US President Donald Trump on Monday evening and later Prime Minister Narendra Modi’s social media message in this regard.
Making a statement soon after the Question Hour in the Lok Sabha, Goyal said that following the visit of Prime Minister Modi to the US in February 2025, India and the US have been engaged in regular discussions with the objective of concluding a balanced and mutually beneficial bilateral trade agreement.
The negotiating teams of the two sides have engaged intensively over the last year at various levels. “Given the significant and varied interests of the two sides, it is natural that both sides would want to ensure the best possible outcome while safeguarding critical and sensitive sectors in their respective economies,” the minister said.
During the course of these negotiations, Goyal said, the Indian side was able to do this, in particular, by ensuring that the interests of our agriculture and dairy sectors were protected. The US side, too, had areas that were sensitive from its point of view. “Day before yesterday, Prime Minister Narendra Modi and President Donald Trump spoke over the phone to discuss multiple issues of bilateral and international significance. Subsequently, President Trump announced a reduced rate of 18 per cent for Indian exports to the US,” he said.
In identical statements in both houses, Goyal underlined that the rate is lower than the tariffs imposed by the United States on several competing countries, thereby enhancing India’s export competitiveness in the US market.
The agreement also provides a significant comparative advantage to Indian exporters, particularly in labour-intensive sectors and manufacturing. “I wish to reiterate to this august House that India’s core sensitivities in food and agriculture have been fully safeguarded,” Goyal said.
Equally, this partnership will unlock new opportunities for MSMEs, entrepreneurs, skilled workers, and industry, enable access to advanced technologies, and support India’s vision to Make in India for the world, Design in India for the world, and Innovate in India for the world, he added.
The minister further said that the landmark framework agreement, therefore, marks an important step in strengthening India-US relations and advancing our journey towards Viksit Bharat 2047 and also reflects the strength of engagement between two of the largest democracies in the world, which are working together for shared prosperity. (PTI)