Piyush Goyal: US Oil & Gas Purchases Crucial for India's Energy Security, Not Sovereignty Compromise

• Commerce Minister Piyush Goyal defends India-US interim trade agreement, stating US crude oil, LNG, and LPG purchases are a strategic necessity for India.
• Goyal emphasizes that diversifying energy sources is vital for India's rapidly growing economy and reduces risk, not increases dependence.
• He dismisses 'surrendering sovereignty' allegations as baseless, clarifying the agreement facilitates trade without dictating company purchases.
• The FTA provides India with an 18% reciprocal tariff advantage, boosting competitiveness in textiles, leather, and other labor-intensive sectors.
• The agreement promises new opportunities for youth, women, farmers, and MSMEs, with significant potential in various industries and a target of $500 billion in energy and tech trade over five years.