Amid the recent announcement of the India–United States interim trade deal, Union Commerce Minister Piyush Goyal said that trade negotiations require patience and composure, though at times a show of temper can be used strategically.He added that successful trade talks demand quick thinking and the ability to anticipate future developments, PTI reported. The White House announced late Saturday, February 6, that India and the United States have finalised the framework for an interim trade agreement aimed at ensuring reciprocal and mutually beneficial commerce.On Saturday, Goyal held a detailed press conference outlining the key provisions of the India–US interim trade agreement. He highlighted tariff cuts, zero-duty categories, and the expected
gains for exporters, farmers and MSMEs, adding that the framework is designed to deepen bilateral trade ties and widen India’s access to global markets.
Goyal earlier emphasised the importance of the interim India–US trade framework, saying the day would be “etched in golden letters.”The commerce minister said Indian farmers remain protected under the agreement and highlighted that US tariffs have been reduced to 18 per cent from 50 per cent, opening access to a USD 30 trillion economy for Indian exporters.“Today is a crucial day in India’s journey towards becoming a developed nation. Prime Minister Modi and the US President initiated discussions in February 2025. Today will be etched in golden letters,” he said at a press conference on Saturday.Highlighting the deal’s key gains, Goyal said a USD 30 trillion economy has now opened up to Indian exporters, creating fresh opportunities and optimism across the country. He noted that tariffs faced by Indian exporters will fall from 50 per cent to 18 per cent, the lowest among neighbouring nations, while shipments of gems and pharmaceuticals to the US will attract zero duty.Assuring the benefits to Indian farmers, Goyal had said, “I can say with absolute certainty that the farmers, MSMEs, artisans, and craftsmen of India will not suffer any kind of loss."
“Considering how the interests of our farmers have been protected, the interests of farmers and the dairy sector have been protected. I believe that the joint statement between the United States and India, which was finalised late last night and presented to the world, has been welcomed in every corner of the country. Even this morning, I was watching a video. A simple artisan from Sambhal in Uttar Pradesh, working in the handicrafts sector, was saying, “Now the tariff is eighteen percent. Now we’re in luck, we’ll benefit greatly. New orders will come in, and there will be progress." These were his words, which I heard this morning on an X (formerly Twitter) handle from a journalist who had interviewed him…Under this agreement, the reciprocal tariff of fifty percent that was levied on Indian exports to the US will now be reduced from fifty percent to just eighteen percent. Eighteen percent is lower than the tariffs imposed by all our neighboring countries and other countries with whom we compete, and this will greatly benefit us and our exporters in the coming days," the Minister added.The United States will also lift tariffs on certain aircraft and aircraft parts imported from India that had been imposed on national security grounds, the joint statement said.In return, India will eliminate or reduce duties on all US industrial goods and a broad range of food and agricultural products, including dried distillers’ grains (DDGs), red sorghum used for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits, among other items.India also plans to buy US energy supplies, aircraft and components, precious metals, technology products and coking coal worth about USD 500 billion over the next five years.
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