Agriculture, dairy fully protected in India-US trade deal: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Wednesday (February 4) told the Lok Sabha that agriculture and dairy, considered among India’s most sensitive sectors, are fully protected under the India-US trade deal.

He said US tariffs on Indian goods have been reduced to 18 per cent from the earlier 50 per cent, making India’s tariff rate among the lowest compared to competing nations. There had been concerns that the two sensitive sectors had been opened to US players.

'Dairy sector is safe'

Goyal said India has successfully safeguarded its agricultural and dairy interests, adding that the trade deal will strengthen initiatives such as Make in India and Design in India and support the country’s goal of becoming self-reliant.

Also Read: Why India-US trade deal raises fears of one-sided concessions

He added that labour-intensive sectors will get a major boost in exports after the reduction in tariffs to 18 per cent. He also said the deal will open huge opportunities for skilled Indians and micro, small and medium enterprises (MSMEs).

'Technical processes ongoing'

He informed that both sides are working to complete the technical processes, and it will be announced soon. Ensuring energy security for Indians is the top priority of the government, Goyal said, adding that India needs goods from sectors like aviation and nuclear, and the US is a major player in these segments.

The deal is in the national interest of India, he said.

Congress says otherwise

Congress, on the other hand, has accused the Modi government of "surrendering" to Trump. Attacking the government over the India-US trade deal, the Congress said it is clear that India has made concessions on liberalising imports of agricultural items.

Congress general secretary in-charge of communications Jairam Ramesh tweeted, "Spin doctors are at work, but we still don't have any details on the deal - although it is clear that India has made concessions on liberalising imports of agricultural items. There is not even a joint statement."

(With agency inputs)