New Delhi, Feb 4 (PTI) The government on Wednesday assured Parliament that the country’s core sensitivities in food and agriculture have been fully safeguarded in the India-US trade deal, and the pact will enhance export competitiveness in the American market.
Commerce and Industry Minister Piyush Goyal made a statement on the trade deal first in the Lok Sabha and later in the Rajya Sabha amid disruptions by opposition MPs, who sought clarifications but were not allowed by the Chair.
Several opposition parties had been asking the government to make a statement in Parliament following the announcement of the deal by US President Donald Trump on Monday evening and later Prime Minister Narendra Modi’s social media message in this regard.
On Tuesday, Lok Sabha witnessed repeated adjournments over a government-opposition face-off in the wake of certain remarks by Congress leader Rahul Gandhi.
Making a statement soon after the Question Hour in the Lok Sabha, Goyal said that following the visit of Prime Minister Modi to the US in February 2025, India and the US have been engaged in regular discussions with the objective of concluding a balanced and mutually beneficial bilateral trade agreement.
The negotiating teams of the two sides have engaged intensively over the last year at various levels.
“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,” the minister said.
During the course of these negotiations, Goyal said, 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.
“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 per cent for Indian exports to the US,” he said.
In identical statements in both houses, Goyal underlined that the rate is lower than the tariffs imposed by the United States on several competing countries, thereby enhancing India’s export competitiveness in the US market.
The agreement also provides a significant comparative advantage to Indian exporters, particularly in labour-intensive sectors and manufacturing.
“I wish to reiterate to this august House that India’s core sensitivities in food and agriculture have been fully safeguarded,” Goyal said.
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 added.
The minister further said that the landmark framework agreement, therefore, marks an important step in strengthening India-US relations and advancing our journey towards Viksit Bharat 2047 and also reflects the strength of engagement between two of the largest democracies in the world, which are natural partners, working together for shared prosperity.
In terms of next steps, Goyal said, 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 informed Parliament.
Goyal further said that issues related to India’s energy sourcing that have been raised in the context of discussions on the agreement, “I wish to clarify once again, as the government has stated publicly on several occasions, that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government”.
He further said: “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.” Insofar as references to sourcing from the US are concerned, Goyal said members would appreciate that India and the US are largely complementary economies.
As India proceeds on the path to Viksit Bharat, it will need to grow capacities enormously in multiple sectors, including energy, aviation, data centres, and nuclear power, to name only a few.
“The US is a world leader in these areas, and it is natural, therefore, for us to focus on the trade potential in these sectors, which will lead to an expansion not only in our sourcing but also in our own exports,” he said.
This framework understanding with the largest economy of the world, one that will continue to power global growth and innovation for years to come, is in the larger national interests of the people of India, Goyal said in Parliament.
It empowers both Viksit Bharat and Atmanirbhar Bharat.
“We will continue to work towards fulfilling this vision of prime minister for our country,” he added.
Soon after Goyal finished his statement in the Rajya Sabha, Opposition members sought clarifications, which were not allowed by Chairman C P Radhakrishnan.
Leader of the House J P Nadda said he clearly stated on Tuesday that the government was ready to discuss all matters and will respond through a statement.
“Yesterday, Piyush Goyal was in Mumbai; he was unwell, despite that, he came to Delhi and attempted to make a statement in the Lok sabha which was unsuccessful as the House did not function. The Opposition is such that tails I win, heads you lose,” the senior BJP leader said.
Later in a social media post, Minister Goyal said he was scheduled to deliver a statement in the Lok Sabha.
“However, when the Government came prepared to provide a factual clarification on the subject, the Opposition began creating a ruckus,” he said, and released his full statement on ‘X’ “for everyone’s benefit”. RSN NKD SKC HVA
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.