India-US Trade Deal Shields Agriculture and Spurs Export Growth
Commerce and Industry Minister Piyush Goyal assured the Lok Sabha that the India-US trade deal safeguards vital sectors like agriculture and dairy. The agreement reduces American tariffs on Indian goods to 18%, enhancing export opportunities, particularly for MSMEs, while fostering initiatives like 'Make in India'.
- Country:
- India
Commerce and Industry Minister Piyush Goyal addressed the Lok Sabha on Wednesday, emphasizing that the India-US trade agreement provides full protection for sensitive sectors such as agriculture and dairy.
Notably, the deal reduces US tariffs on Indian goods from 50% to 18%, significantly benefiting India in comparison to competitor nations.
Goyal highlighted the potential for boosting exports, especially in labor-intensive sectors, as well as promoting initiatives like 'Make in India'. The agreement is also set to create numerous opportunities for skilled Indians and MSMEs.
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