Union Commerce and Industry Minister Piyush Goyal on Thursday expressed confidence that India’s proposed trade agreement with the United States will protect the interests of farmers and other stakeholders,
asserting that the deal will put the country in a strong position once its terms are made public.
Speaking at the 4th ISID-IDRA National Conference on India’s Industrial Transformation in Delhi, Goyal defended the negotiations against criticism, arguing that the agreement’s details were not yet fully available for scrutiny.
“I have the courage of conviction to announce boldly that the US trade deal, once the details are out, the people of India will celebrate that not a single sensitive interest of our farmers or any stakeholder has been compromised. India will stand at a very strong comparative advantage,” he said.
The minister also contrasted the criticism surrounding the proposed US agreement with the reception of India’s other recently concluded free trade agreements, questioning objections raised before the full terms had been disclosed.
Also Read: Trump Says India-US Trade Deal Is ‘Pretty Close’, Hints At ‘Much Different’ Agreement
“I have yet to come across anybody who could find a single flaw in any of the 8 Free Trade Agreements which are concluded and whose details are out in the market. The ninth, the US free trade deal, is sometimes sought to be politicised by a few elements. I don’t even know whether they deserve any comment because that’s probably due to a lack of understanding or lack of knowledge. The details are not yet fully out. I don’t know what they are criticising,” the minister said.
Trump Says India-US Trade Deal Is ‘Pretty Close’
Goyal’s remarks come amid indications from Washington that negotiations between the two countries are nearing completion.
US President Donald Trump recently suggested that an agreement with India was close when asked about the status of the bilateral trade deal during a news briefing on Tuesday, local time.
“They want to make a deal. We’re going to make a deal. Pretty close, yeah. Going to be a much different kind of a deal than we’ve made in the past,” he said.
US Secretary of State Marco Rubio had also described the agreement as “incredibly close”, signalling that the negotiations could be approaching their final stage.
Trade Agreement And India’s Export Interests
The proposed India-US Bilateral Trade Agreement is expected to play a significant role in expanding trade ties between the two countries.
Also Read: ‘Not Months, US-India Trade Deal Expected In Weeks’: Marco Rubio Tells News18 ‘It Is Incredibly Close’
The framework envisages improved access for Indian exporters to the American market, valued at more than $30 trillion, alongside changes to tariffs and co-operation in digital and technology sectors.
The proposed arrangement also seeks to balance export opportunities with domestic priorities, including the interests of farmers, micro, small and medium enterprises (MSMEs), and Indian industry.
However, the final terms of the agreement will be crucial in determining the extent of market access, tariff changes and safeguards for domestic sectors.
Goyal has maintained that the details should be assessed once they are fully available, expressing confidence that the deal will ultimately be welcomed by the Indian public.
With inputs from ANI
