India-US trade deal to boost exports, safeguard farmers' interests: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal said the India-US interim trade framework is a historic step toward achieving USD 500 billion in bilateral trade. He announced that reciprocal tariffs on Indian exports to the US will fall sharply from 50% to 18%. Goyal stressed that India’s agricultural sector is fully protected, with sensitive items such as dairy, soy meal, and select fruits kept outside the agreement.

Key sectors including gems and jewellery, pharmaceuticals, and textiles will gain zero-duty access to the US market. The framework also enables easier imports of critical high-tech goods like semiconductors and medical devices, supporting the Viksit Bharat 2047 vision. He reaffirmed India’s strategic autonomy in energy and commitment to balanced, job-creating trade.