Piyush Goyal Confident in India-US Trade Deal Amid Opposition Criticism

Union Minister of Commerce and Industry Piyush Goyal expressed strong confidence that the opposition will struggle to find substantial basis for criticism regarding the recently announced India-US interim trade deal. In an exclusive interview, Goyal dismissed fears of an aggressive campaign against the government concerning the agreement, asserting that the deal is solid and beneficial.

He stated, “What is the difficulty? I’ve done a fantastic deal. We are celebrating the deal. They may attack on falsehoods about which I’m not worried.” Goyal further emphasized that if there were any significant missteps in the deal, he would be concerned. “There is nothing in the trade deal by which they can attack me,” he added confidently.

Goyal welcomed discussions on the trade agreement, both inside and outside the Parliament, emphasizing that such dialogue is vital for a functioning democracy. “I welcome anybody to come and have a conversation with me on this, provided they are willing to let Parliament run,” he stated, highlighting the need for constructive debate.

Concerns Over Delay in Trade Deal Details

Addressing concerns regarding the delay in public disclosure of the trade deal details, Goyal explained that it is customary to wait until the agreement is fully finalized and approved by the Cabinet. “Yes, we’ll have to wait for some more time,” he noted, reiterating that the opposition would find no real grounds for criticism.

In his remarks, Goyal criticized opposition parties for what he described as a lack of seriousness and missed opportunities for constructive debate. He referred to recent disruptions during discussions on the President’s address, labeling the events as “an absolutely sad day” for Parliament. He said, “Probably the first time that we’ve had to abort a complete discussion because of the immaturity and behaviour of some parliamentarians from the opposition.”

This conduct, he argued, not only deprived Members of Parliament the chance to address issues important to their constituents but also projected a poor image of India’s parliamentary democracy on the global stage. “I dare say they are very non-serious politicians,” he remarked, urging opposition members to engage in meaningful discussions rather than disrupt parliamentary proceedings.

Details of the India-US Trade Agreement

The United States and India recently announced a framework for an interim agreement on reciprocal, mutually beneficial trade. This agreement reaffirms their commitment to a broader Bilateral Trade Agreement (BTA), which was originally launched by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025.

As part of this framework, India has committed to eliminating or reducing tariffs on all US industrial goods, as well as a wide variety of agricultural and food products. These include dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine, and spirits, among others. In return, the United States will impose an 18% tariff on goods imported from India, including textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home décor, artisanal goods, and certain machinery.

Looking ahead, the US has indicated that if the interim agreement is successfully concluded, it plans to remove reciprocal tariffs on select items such as generic pharmaceuticals, gems and diamonds, and aircraft parts. Additionally, the United States will lift tariffs on some aircraft and aircraft parts from India, which had previously been imposed to address national security concerns.

Under the framework, India aims to purchase USD 500 billion worth of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years. This ambitious trade deal is expected to enhance economic ties between the two nations and foster greater cooperation in various sectors.