Union Commerce Minister Piyush Goyal on Saturday credited Prime Minister Narendra Modi’s “masterclass” and US President Donald Trump’s leadership in securing a landmark India-US trade deal, emphasising that the two countries share a good relationship and mutual respect.
Speaking in an exclusive interview with CNN-News18, Goyal said it was PM Modi and Trump’s leadership that gave impetus to the trade deal and helped smooth engagement between the two sides. “If your intent is pure, if you believe in fair play on both sides and respect each other’s sensitivities, and are committed to the well-being of your nation while recognising strengths, it leads to mutual understanding,” he said.
He called the deal a powerful “win-win” arrangement for both countries
to strengthen trade engagement. “When we look at the $30 trillion US economy and the $4 trillion Indian economy that is rapidly growing to become a $30 trillion economy in 2047, we both collectively provide a force multiplier, which helps us achieve the target of $500 billion purchases in five years,” he said.
His remarks came after an interim deal between India and the US was announced on Saturday, culminating months of negotiations amid tariff-related tensions. The deal provides for a reduction in reciprocal US tariffs on Indian goods to 18 per cent.
READ MORE: US Agrees To 18% Tariffs, Open To Further Reductions For India: Joint Statement
PM Modi’s ‘Masterclass’
Goyal further lauded PM Modi, calling him a “pragmatic leader” who recognises India’s comparative strengths and the sensitive areas, such as farmers and fishermen. “This unique and clear understanding of PM Modi has helped us navigate the whole process,” he added.
He compared PM Modi to a “masterclass” who is very practical and offers real-life solutions. “Over the last 12 years of working with him, we have all actually grown in terms of our understanding of principles of negotiation, and our understanding of how to look at the best interests of your nation. Most important is his holistic thinking,” he told CNN-News18.
The Commerce Minister said India’s focus is on acquiring ICT products, data centres and quantum computing equipment from the US to become an international player in modern-day technological areas.
India-US Ties
He also asserted that India shares a good relationship with the United States, who respected each other’s sensitive areas. He also rejected criticism that the deal could affect Indian farmers, adding that several Indian exports are facing zero tariffs.
He also said he foresaw no problems with the US in the future, citing the friendly relations between the two sides and the fact that teams had finalised all matters after months of negotiations. “We are not that much apart in terms of our abilities to conclude a good deal. We are not competitors, we complement each other. We respect each other’s sensitivities. Both leaders guided teams,” he added.
ALSO READ: ‘India-US Trade Deal Doesn’t Hurt Farmers, MSMEs’: Piyush Goyal Hits Back At Opposition Criticism
He said India was already self-sufficient in rice, wheat, sugar, soyabean, corn, GM products, poultry, millets, certain fruits and green peas, groundnuts and non-alcoholic beverages. These products that were sensitive for the farmers and were protected under the new deal. “On other products, there has been a calibrated opening. In many cases, there has been some phasing out over a period of time and tariff rate quotas have been given.”
Goyal expressed confidence that the trade deal could generate several opportunities for collaboration between the two countries.
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