Editor’s Note
This article highlights Commerce Minister Piyush Goyal’s remarks on a new India-US trade pact, which he describes as historic and protective of key domestic sectors.
Commerce and Industry Minister Piyush Goyal said today that the India-US trade agreement is a historic and visionary agreement that has kept India’s national interests paramount. Speaking in New Delhi today, Mr. Goyal said this agreement will strengthen India’s position in the global economy. He said that Prime Minister Narendra Modi has always kept in mind the interests of the country’s agriculture and dairy sectors and has continuously worked for the bright future of the people associated with them. Expressing happiness, the Union Minister said that the trade agreement has protected the interests of India’s sensitive sectors.
Mr. Piyush Goyal said that this agreement will benefit several sectors including Micro, Small and Medium Enterprises (MSMEs), textiles, gems and jewellery, leather, and marine products. He said the agreement will provide India with opportunities to acquire world-class technology, which will further accelerate India’s growth story and economy. Mr. Goyal also informed that the detailed terms of the trade agreement are being finalized and both countries will soon issue a joint statement.
The Union Minister criticized Leader of Opposition in Lok Sabha Rahul Gandhi and other opposition leaders for misleading people and spreading confusion about the trade agreement.
Various industry organizations have also welcomed the India-US trade agreement. In a special conversation with Akashvani News, Nirmal K. Minda, President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM), described it as a major achievement.
The Confederation of Indian Industry (CII) also praised the trade agreement, calling it a significant step towards strategic economic partnership between the two countries. CII President Rajiv Memani said that reducing tariffs by 18 percent will enhance the global competitiveness of Indian products while also accelerating growth in the manufacturing sector, job creation, and the development of robust supply chains.
