Commerce Minister Piyush Goyal India on Wednesday said it has protected its interests in sensitive sectors such as agriculture and dairy under trade agreements with the US. Addressing the Lok Sabha, the minister said the agreement would support the goals of Bhikshit Bharat and strengthen the Atmanirbhar Bharat initiative.
Goyal said the Indo-US trade deal will boost exports from labour-intensive sectors. (Screengrab@SansadTV)Goyal said the India-US trade agreement will boost exports from labor-intensive sectors and increase the global competitiveness of Indian exporters.
Also read ‘Final stage before inking’: Big praise for Piyush Goyal, little detail on Indo-US deal amid unanswered questions
He added that Indian goods would face lower US tariffs than those imposed on competing countries.
The minister also said that the agreement will open up new opportunities for skilled Indian professionals and micro, small and medium enterprises in the US market.
Meanwhile, the proceedings of the Lok Sabha were disrupted due to protests by opposition members on various issues, leading to the adjournment of the House till 2 pm.
Piyush Goyal appeared on TV on Tuesday evening, reportedly to share some details and clear the air around the India-US trade deal, but mainly praised the deal. And then he said the final bits are still being worked out. After that the contract will be officially signed.
“Today, 140 crore Indians are celebrating a trade deal that is in the final stages of being detailed between the negotiating teams of both countries,” Goyal said, hailing the “friendship” between Prime Minister Narendra Modi and US President Donald Trump.
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“We will soon issue a joint statement by both countries with details, which we will soon sign between the US and India. And as soon as the final understanding of the agreement is signed, and as soon as the joint statement is finalized, the technical processes are completed, the full details will be shared,” he added.
“But I can assure every Indian that the details of this deal will make every Indian proud,” he added. He did not share a timeline but news agency ANI quoted official sources as saying that a joint statement is expected by this week.
From the Trump administration, US Trade Representative Jamieson Greer said in an interview later Tuesday, “We will finalize the paperwork on this, but we know the specifics, we know the details.. He added that India is “maintaining some protections” around agricultural products. Here, too, many key questions remain unaddressed.
Goyal’s 20-minute speech was heavy on general, widespread praise for the deal and also focused on criticizing the opposition, mainly Rahul Gandhi.
