Trade agreement with US will create major opportunities for India, friendship between Modi and Trump played key role in making agreement possible: Centre

NEW DELHI: Union Commerce Minister Piyush Goyal has said that the India-US trade agreement will create major opportunities for India. His remarks came after US President Donald Trump announced on Monday that tariffs on Indian products would be reduced to 18 percent and that a free trade agreement had been finalised.

Goyal said the agreement would protect key sectors such as agriculture, animal husbandry, and dairy farming. He added that labour-intensive industries, including textiles, gems and jewellery, and leather goods, would gain significant opportunities in the US market. As he could not make a statement in Parliament, the minister explained the details of the agreement at a press conference.

According to Goyal, the deal being signed between India and the US is the best agreement the US has entered into when compared with those signed with neighbouring countries. "This is the best deal achieved so far, one that would benefit the future of Indian citizens. The personal friendship between Prime Minister Narendra Modi and US President Donald Trump played a key role in making the agreement possible," the minister said.

"When US products enter the Indian market, the interests of India's farmers, the livestock sector, and the dairy industry will be protected. The agreement would provide unprecedented opportunities for MSME entrepreneurs and skilled workers to access global markets. The deal would also help bring advanced technology from the US to India. This is a historic turning point as the agreement would strengthen India-US relations and accelerate India’s journey towards becoming a developed nation by 2047," Piyush Goyal said.

Responding to Congress leader Rahul Gandhi’s statement that Prime Minister Modi had given in to President Trump, Goyal said the remark showed a lack of desire for India’s development. He accused Rahul Gandhi of misleading the public and said he would have to answer to the people for such a stand.