Agriculture, dairy sectors ‘fully’ protected under India-US trade deal, Piyush Goyal tells Parliament

THe India-US merchandise sell “ full” protects core group sensitivities in the amerindic agriculture and dairy sectors, Union commerce minister Piyush Goyal told Parliament on Wednesday, emphasising that New Delhi’s “framework understanding” with Washington safeguards “critical and sensitive sectors” of the respective economies.Goyal said the deal will enhance India’s competitiveness in the world’s biggest market and the “detailed contours of the agreement” will be announced shortly after completion of technical processes and paperwork. He read the statement in Hindi at both houses of the Parliament on Wednesday. He could not make his statement in Parliament on Tuesday because of ruckus created by the Congress and the opposition parties.“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% for Indian exports to the US. I wish to underline that this rate is lower than the tariffs imposed by the US on several competing countries, thereby enhancing India’s export competitiveness in the US market,” he said.According to the announcement, the US agreed to remove a 25% punitive tariff imposed on Indian goods for India purchasing Russian oil and reduce another 25% reciprocal tariff on Indian imports to 18%. Indian exports, particularly labour-intensive sectors such as textiles, leather goods and marine products, were hit hard because of a high 50% tariff barrier from August 2025.The minister said the framework of understanding could be achieved after intensive discussions between the two sides over the last year at various levels, following the visit of PM Modi to the US in February 2025, where the two leaders agreed to conclude a “balanced and mutually beneficial” bilateral trade agreement (BTA). “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,” Goyal said.“During the course of these negotiations, 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,” he added.Goyal assured Parliament that India’s interests were protected. “I wish to reiterate to this House that India’s core sensitivities in food and agriculture have been fully safeguarded. 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 said.According to the minister, the framework agreement will strengthen India-US relations and advance India’s journey towards Viksit Bharat (developed India) by 2047.“The two sides will now work together to complete the necessary technical processes and finalise the paperwork related to the trade deal, so as to expeditiously unlock its potential. The detailed contours of the agreement will be announced shortly after completion of these processes,” he said.On India’s strategy to purchase crude oil and other energy products, the minister said: “I wish to clarify once again that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government.”“Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this. All of India’s actions are taken with this in mind. I would therefore urge the Hon’ble members to consider these issues in their proper perspective,” he said in Parliament.Goyal further said the government was meeting growing India’s energy requirements through diversified sources.