‘No Concessions For US’: Piyush Goyal Says India Will Protect Agricultural Sector

India will not grant import concessions to the US on key agricultural products under the proposed bilateral trade agreement, Commerce Minister Piyush Goyal said, citing India’s self-sufficiency.

Goyal noted that agriculture plays a vital role in India’s economy and employment generation

Source : ANI

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Union Commerce and Industry Minister Piyush Goyal on Saturday said that India will not offer any import benefits to the United States on a wide range of agricultural products under the proposed India-US bilateral trade agreement, citing the country’s self-sufficiency in the sector. Speaking at a press conference, Goyal clarified that sensitive agricultural items have been excluded from import concessions to protect domestic farmers and rural livelihoods.

Sensitive Farm Sectors Remain Protected

The no-import-benefits list includes meat, poultry, dairy products, soyabean, maize, rice, wheat, cereals, millets such as jowar, bajra and ragi, fruits, green tea, oilseeds, groundnuts, honey, non-alcoholic beverages, ethanol and tobacco. The minister said the decision aligns with India’s long-standing trade policy of keeping crucial farm sectors outside the ambit of free trade agreements. India has followed a similar approach in trade negotiations with the European Union, the United Kingdom and Australia, where sensitive agricultural commodities were kept protected.

Trade Pact Boosts Indian Exports

Goyal noted that agriculture plays a vital role in India’s economy and employment generation, making it essential to shield domestic producers from excessive foreign competition, particularly in sectors involving food security and farmer income. Expanding on the India-US joint statement, the commerce minister said the proposed trade pact would open access to a $30 trillion market for Indian exporters, with significant benefits for MSMEs, farmers and fishermen. He added that several Indian exports to the US, including gems and jewellery, pharmaceuticals and smartphones will continue to enjoy zero-duty access.

Zero Tariffs, Jobs Boost

“In the agricultural sector, a range of Indian products will benefit from zero reciprocal tariffs,” Goyal said. These include spices, tea, coffee and their derivatives, coconut and coconut oil, vegetable wax, areca nut, cashew nut, Brazil nut, chestnut, and multiple fruits and vegetables.According to the minister, the expected rise in exports under the agreement could generate lakhs of new employment opportunities, particularly for women and youth across the country.

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