‘Safeguarded agriculture, dairy': Piyush Goyal hails India-US trade deal in Parliament

NEW DELHI: Union commerce and industry minister Piyush Goyal on Wednesday defended the India-US bilateral trade agreement in the Lok Sabha, saying India had “successfully safeguarded” its sensitive sectors, particularly agriculture and dairy, after nearly a year of negotiations between the two sides.

“As the Members of the House are aware, since Prime Minister Narendra Modi's visit to the United States in February 2025, India and the US have been regularly engaged in discussions with the objective of concluding a balanced and mutually beneficial bilateral trade agreement,” Goyal said.



He added that negotiators from both countries held intensive discussions at multiple levels over the past year.




“During these negotiations, the Indian side successfully ensured the protection of its sensitive sectors, particularly agriculture and dairy,” he said, noting that the US too had areas it considered sensitive.

Year-long talks, key sectors finalised

Goyal said it was natural for both sides to protect critical interests while seeking the best possible outcome. “After several rounds of deliberations spanning approximately one year, the negotiators from both sides have succeeded in finalizing several areas of the bilateral trade agreement,” he told the Lower House.

He said the agreement would help promote flagship initiatives such as Viksit Bharat, Atmanirbhar Bharat, Make in India and Design in India for the world, while also enhancing the export competitiveness of Indian exporters.

The minister said the deal would open up opportunities for skilled Indian professionals and micro, small and medium enterprises (MSMEs) in the US market.

Tariff reduction lower than competitors

Referring to the latest call between PM Modi and Trump, Goyal said, “On 2nd February 2026, PM and US President Donald Trump held a telephonic conversation on several matters of bilateral and international importance. After this, President Trump announced a reduction in tariff to 18 per cent.”



He added, “I would like to emphasize the fact that this tariff is lower than the US tariff on several competitor nations,”. Further the minister added that, “Energy security for Indians is the top priority of government.”

Goyal maintained that the agreement balanced the interests of both countries while protecting India’s core sectors and strengthening bilateral trade ties.

US President Donald Trump on Monday night on his social media platform Truth Social announced that India and the US have “agreed to a trade deal” and also the US would reduce tariffs in India from 25 per cent to 18 percent.

PM Modi later in a post on X acknowledged Trump’s announcement saying, “Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.”