US EditionIndia–US Framework Deal Doesn’t Hurt Farmers, MSMEs: Piyush Goyal
The interim trade framework excludes sensitive agricultural products to protect farmers while expanding exports for Indian industries and MSMEs, officials said.
- On Saturday, Piyush Goyal, Union Commerce and Industry Minister, said the framework expands exports and protects farmers, despite opposition criticism.
- After extended talks, the framework reduces tariffs on US industrial goods and a broad basket of agricultural products, reaffirming commitment to the launched February 13, 2025, BTA.
- Sensitive items remain protected, with the deal specifying that sensitive agricultural and dairy products including maize, wheat, rice, soya, poultry, meat, milk and cheese remain outside tariff concessions and genetically modified food is banned while allowing zero-duty Indian agricultural exports to the United States.
- Union Minister Ramdas Athawale welcomed the pact, saying it will strengthen bilateral ties and benefit key sectors including agriculture, while government leaders assured farmers, MSMEs, artisans and craftsmen will not suffer loss.
- Looking ahead, the pact could see later tariff removals for select items including pharmaceuticals, gems and diamonds, and aircraft parts, while the framework provides for a reduction in reciprocal US tariffs to 18 percent.
13 Articles
13 Articles
India, US seal interim trade pact framework
India-US trade deal: India's exports of about $44 billion to the US will enter the American market at zero reciprocal tariffs under the first phase of the BTA, which is expected to be signed by mid-March. This will include spices, tea, coffee, copra, coconut oil, certain nuts, banana, guava, mango, bakery goods, and home decor.
"India-US interim trade deal will boost trade, empower farmers": Union Minister Ramdas Athawale
Union Minister Ramdas Athawale on Saturday welcomed the India-US interim trade agreement, saying the framework would strengthen bilateral trade ties and benefit key sectors, including agriculture, while dismissing concerns being raised about its impact on farmers.
Reduced US tariffs of 18% on India come into effect. What it means
The agreement will reduce US reciprocal duties on Indian exports to 18 per cent, while scrapping tariffs entirely on items such as generic medicines, gems and diamonds, and aircraft components—opening up stronger export prospects across several key sectors.
India–US framework deal doesn’t hurt farmers, MSMEs: Piyush Goyal
Piyush Goyal on Saturday defended the India–US interim trade framework, rejecting opposition claims that it harms farmers and saying the agreement includes strong safeguards for the agricultural sector while boosting exports.
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