Goyal: India-US Trade Deal Protects Farmers, Industry with Adequate Safeguards

• Commerce Minister Piyush Goyal confirms adequate safeguards in the India-US trade agreement to protect farmers and domestic industry from import surges.
• The deal aims to benefit Indian farmers, who already export USD 50-55 billion in agricultural and fish products.
• Indian goods will gain a competitive edge in the US market due to an 18% tariff, lower than competitors like China (35%) and other nations (over 19%).
• Goyal clarified that the joint statement is a two-page document, with many details still being worked out, emphasizing that safeguards are always present in negotiations.
• India has not granted duty concessions on dairy, GM products, meat, poultry, soya meal, and corn, but has provided some market access for pulses and lentils.