India-US trade deal highlights: Goyal calls India-US trade deal ‘fair, equitable and balanced’, lists zero-duty items

India-US trade deal LIVE: BJP national president Nitin Nabin said that the recently concluded India-US trade deal, along with the EU-India Free Trade Agreement, demonstrates the strength and global appeal of the Indian market.

According to Nabin, these agreements not only open up new opportunities for Indian exporters but also reinforce India’s position as a key player in international trade.

India-US trade deal LIVE: Former foreign secretary and Rajya Sabha MP Harsh Vardhan Shringla described the India-US interim trade agreement as “an important deal,” noting that it follows closely after India concluded its landmark trade deal with the European Union covering 27 countries.

Shringla said the agreement gives Indian exporters, small industrialists, farmers and labourers “a great advantage over our competitors” and expressed confidence that India’s exports to the United States are likely to increase significantly under the framework, reported ANI.

India-US trade deal LIVE: JD(U) MP Sanjay Kumar Jha on Saturday welcomed the India-US interim trade agreement, saying it would be “in the best interests of the farmers.”

He highlighted that tariffs under the framework have been slashed, adding that India has also announced trade deals with other nations. According to Jha, the agreement will help boost exports and support domestic agriculture while strengthening India’s position in global trade.

India-US trade deal LIVE: Union agriculture minister Shivraj Singh Chouhan on Saturday welcomed the India-US interim trade agreement, saying the framework would be “highly beneficial.”

Speaking from Madhya Pradesh, Chouhan said trade deals with the US, EU, or any other country are in the “best interests of the farmers and the public” and assured that “all the products produced by the farmers are safe,” reported ANI.

India-US trade deal LIVE: Congress MP Sukhdeo Bhagat said, "This is not a trade deal, it is a grave deal. They talk about 'Make in India', but they have done ‘Sale in India.’ Trump is dictating everything and PM Modi is reading the script. This is not a master stroke. It is a major mistake," reported ANI.

India-US trade deal LIVE: AAP Delhi president Saurabh Bharadwaj told ANI, "Even politically weak governments did not surrender the country to the US. Is US President Trump going to run India the way he is running Venezuela?"

India-US trade deal LIVE: Union minister for commerce and industry Piyush Goyal will address a press conference later today on the recently issued India–US Joint Statement on the interim free trade framework. The briefing is expected to begin around 1:30 pm, reported ANI.

India-US trade deal LIVE: Congress MP Jairam Ramesh on Saturday took a swipe at Prime Minister Narendra Modi over the India–US trade deal, alleging that the Prime Minister appeared “flustered” and “nervous” in Parliament and failed to address key concerns raised by the Opposition.

Ramesh claimed the Prime Minister skipped the Lok Sabha and instead spoke in the Rajya Sabha, delivering what he described as a “97-minute election speech” that focused only on attacking the Congress. “He didn’t answer any of the questions raised by the opposition,” Ramesh said.

Targeting what he called the Prime Minister’s “huglomacy” and repeated photo-ops with US President Donald Trump, the Congress leader said the trade agreement had not advanced India’s interests. “The trade deal is frankly not something that we can say our interests have been furthered. We will import more from America, that’s 100 per cent certain,” he added.

India-US trade deal LIVE: Uttar Pradesh chief minister Yogi Adityanath on X welcomed the India–US interim trade framework, calling it a “landmark step” in strengthening bilateral economic ties.

He said the agreement would give a decisive push to the Make in India initiative by expanding global market access for Indian products, while safeguarding farmers, food security and rural livelihoods.

Thanking Prime Minister Narendra Modi for what he described as “decisive and dynamic leadership”, Adityanath said the deal secures a balanced, reciprocal and “India-first” outcome.

India-US trade deal LIVE: Congress general secretary (communications) Jairam Ramesh on X took a swipe at the optics surrounding India-US relations, invoking the “Howdy Modi” moment to argue that symbolism has not translated into substantive gains.

Referring to the recently released joint statement, Ramesh said details remain unclear but claimed it indicates that India may stop importing Russian oil amid warnings of a 25% penalty, slash import duties “at the cost of Indian farmers” to benefit US agriculture, and see its annual imports from the US triple, potentially ending India’s long-standing goods trade surplus.

“All those hugs and photo-ops have not produced any significant result,” he wrote, adding, “Namaste Trump has been overshadowed by Howdy Modi… the friendship is no longer there.”

India-US trade deal LIVE: India and the United States began negotiations for the first phase of a Bilateral Trade Agreement (BTA) in February last year, laying the groundwork for the interim trade framework announced this week. The framework is now set to be converted into a legal agreement, which is expected to be signed by mid-March.

Once the pact is formalised, India will begin cutting import duties on specified American goods, as outlined in the framework. Following the successful conclusion of the interim agreement, tariffs are expected to be reduced to zero on a wide range of Indian exports, including generic pharmaceuticals, gems and diamonds, and certain aircraft and aircraft parts.

India-US trade deal LIVE: Under the interim trade framework, the United States will reduce tariffs on Indian goods to 18% from the existing 50%, while India will eliminate or cut import duties on all US industrial goods and a wide range of American food and agricultural products. These include dried distillers’ grains, red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits.

The framework also outlines India’s intention to purchase $500 billion worth of US goods over the next five years. According to the joint statement issued by both sides, these purchases would span energy products, aircraft and aircraft parts, precious metals, technology products and coking coal.

“The US and India are pleased to announce that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade,” the joint statement said.

India-US trade deal LIVE: Congress leader Udit Raj on Saturday urged a detailed, clause-by-clause debate in Parliament on the India–US interim trade agreement, saying its terms raise serious questions about India’s economic interests.

He expressed concern that under the framework Indian farmers “will not be able to compete with the quality and price of US products,” and argued that parts of the deal could disadvantage domestic agriculture.

Raj also pointed to provisions in the joint statement that he said appear to bind India to commitments such as not buying oil from Russia, suggesting this could force India into higher-cost energy imports from countries like Venezuela and the United States. He said India’s refineries are calibrated for Gulf and Russian crude, and that importing oil from distant sources “doesn’t make sense” due to increased transportation costs, reported ANI.

India-US trade deal LIVE: Congress MP Manish Tiwari on Saturday raised concerns over the scope of market access commitments under the India-US interim trade framework, sharing an excerpt from the joint statement issued on February 6.

Quoting the statement, Tiwari pointed to the provision that says India will eliminate or reduce tariffs on all US industrial goods and a wide range of US food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, among other products.

In a post on X, Tiwari questioned whether the wording meant that India had agreed to fully open up its industrial and agricultural sectors to the United States “without any let or hindrance.”

He said the industrial sector appeared to have been “thrown wide open,” while noting that the formulation for agriculture uses the word “including,” rather than being limited to a specific list.

Calling for greater scrutiny, Tiwari said the issue merits a “full fledged discussion in Parliament” to clarify what exactly the government has agreed to.

India-US trade deal LIVE: US Trade Representative Ambassador Jamieson Greer on Friday (local time) the trade deal with India, saying the agreement would remove tariff and non-tariff barriers and open India’s vast market to American products.

In a statement issued after the announcement, Greer said the deal would deliver significant gains for US workers, farmers and producers by lowering tariffs across all US industrial goods and a wide range of agricultural products.

“President Trump’s dealmaking is unlocking one of the largest economies in the world for American workers and producers, lowering tariffs for all U.S. industrial goods and a wide array of agricultural products,” he said.

Greer added that the announcement reflects deepening ties between Washington and New Delhi and would create fresh opportunities for farmers and entrepreneurs in both countries.

He also thanked the commerce and industry minister Piyush Goyal for his leadership and commitment to achieving “fair and balanced” agreement.

India-US trade deal LIVE: Shiv Sena (UBT) MP Priyanka Chaturvedi on Saturday hit out at the Centre over the India-US interim trade agreement, alleging that the deal reflects “an order” from Washington DC rather than the outcome of negotiations.

Sharing an excerpt from the joint statement issued by the commerce ministry and the White House, Chaturvedi claimed the framework closely follows what US President Donald Trump had earlier said on social media.

“A joint statement has been issued by the US and India. I’d reiterate this isn’t an outcome of talks but that of an order from the US that the Indian government has agreed to follow,” she wrote, adding that it “follows most of what the US President had already said on Truth Social.”

Quoting from the statement, Chaturvedi pointed to provisions under which India would eliminate or reduce tariffs on a wide range of US food and agricultural products, while the US would apply a reciprocal tariff rate of 18% on Indian-origin goods.

India-US trade deal LIVE: Finance minister Nirmala Sitharaman said the framework for the India-US interim agreement would strengthen India’s leadership in the digital services sector and deepen technology cooperation between the two countries.

Sitharaman said the joint technology push under the framework would “position India as a hub for AI, data and digital services,” underlining the strategic focus on emerging technologies.

She also stressed that India has safeguarded domestic sensitivities, saying the framework protects agriculture and animal husbandry interests. “India has safeguarded the sensitivities of its agriculture and animal husbandry sectors,” she said, adding that the agreement protects key farm and dairy products, spices and staples, thereby strengthening farmer incomes.

Highlighting the impact on smaller businesses, Sitharaman said the interim agreement would help Indian MSMEs integrate into global value chains, while also lowering costs for businesses and consumers.

India-US trade deal LIVE: External affairs minister S Jaishankar on Saturday said the framework for an interim trade agreement would help realise a mutually beneficial India-US trade partnership.

In a statement on the deal, Jaishankar said the framework would ensure “greater market access and opportunities for our exporters,” adding that “new vistas have opened up that will further promote Make in India.”

India-US trade deal LIVE: Itemised list of products protected under the India-US trade deal, as outlined by Piyush Goyal

- Vegetables protected (Frozen vegetables)

• Potatoes
• Peas
• Cucumbers and gherkins
• Beans
• Other legume vegetables (peeled or unpeeled)

- Temporarily preserved vegetables such as:

• Cucumbers
• Mushrooms (Agaricus species)
• Mixed canned vegetables

- Dairy products protected

• Milk (liquid, powdered, candied and other forms)
• Cheese (including mozzarella, blue-veined, grated and powdered varieties)
• Cream
• Butter oil
• Yoghurt
• Buttermilk
• Whey and whey products
• Butter
• Ghee

- Grains protected

• Ragi
• Wheat
• Copra
• Amaranth
• Siamak
• Maize
• Millet
• Rice
• Barley
• Oats
• Sorghum
• Fine flour
• Flour made from wheat, corn, rice and millet
• Spices protected
• Black pepper
• Clove (long)
• Dried green chilli
• Cinnamon (bark, flowers and related forms)
• Coriander
• Cumin
• Asafoetida
• Ginger
• Turmeric
• Celery
• Fenugreek
• Cassia
• Mustard
• Rye
• Husk
• Other powdered spices

India-US trade deal LIVE: In a post on X, commerce and industry minister Piyush Goyal said the India-US trade agreement marks a strong step towards a self-reliant India, stressing that the government has ensured full protection for key agricultural and dairy sectors.

“Farmers Safe, Country Developed… In the India-US trade agreement, dairy, fruits, vegetables, spices, and other grains have been protected,” Goyal said.

He added that the move would safeguard the interests of domestic farmers, strengthen local agriculture and leverage preferential access to a large market, calling it “another powerful step forward in the direction of a self-reliant India.”

India-US trade deal LIVE: Prime Minister Narendra Modi on Saturday welcomed the finalisation of the framework for an interim trade agreement between India and the United States, describing it as “great news for India and USA” and thanking US President Donald Trump for his “personal commitment to robust ties” between the two countries.

In a statement reacting to the development, Modi said the framework reflects the “growing depth, trust and dynamism” of the India-US partnership and would strengthen the Make in India initiative by opening up new opportunities for farmers, entrepreneurs, MSMEs, startup innovators and fishermen.

“This framework reflects the growing depth, trust and dynamism of our partnership. It strengthens ‘Make in India’ by opening new opportunities for India’s hardworking farmers, entrepreneurs, MSMEs, StartUp innovators, fishermen and more. It will generate large-scale employment for women and youngsters,” the Prime Minister added on X.

India-US trade deal LIVE: The interim trade framework states that India intends to purchase $500 billion worth of US goods over the next five years, spanning energy products, aircraft and aircraft parts, precious metals, technology products and coking coal.

The framework also says that India and the United States will significantly scale up trade in technology products, including Graphics Processing Units (GPUs) and other goods used in data centres, while expanding joint cooperation in critical technologies.

The clarification comes after US President Donald Trump, in an earlier Truth Social post announcing the deal, claimed that India would buy $500 billion of US energy products. Trump did not specify how or over what timeline this exchange would take place.

The joint statement has indicated that the interim agreement is intended to serve as a bridge toward a full-fledged Bilateral Trade Agreement (BTA).

“The United States and India will work towards further expanding market access opportunities through the negotiations of the BTA. The United States affirms that it intends to take into consideration, during the negotiations of the BTA, India’s request that the United States continue to work to lower tariffs on Indian goods,” the statement added.

India-US trade deal LIVE: Commerce and industry minister Piyush Goyal on Saturday said the India-US trade deal would significantly expand market access for Indian products while strengthening key domestic sectors.

Goyal said the agreement would “not only provide greater access to the US market for Indian products” but would also support India’s labour-intensive sectors, which are expected to see higher demand and export growth as tariffs come down.

He added that the deal would have wider structural benefits as well, noting that it would “give a big boost to our digital infrastructure,” pointing to the growing role of technology and digital trade in India-US economic ties.

India-US trade deal LIVE: Commerce and industry minister Piyush Goyal on saturday welcomed the finalisation of the India-US interim trade framework, calling it a major step forward for Indian exporters and job creation under the leadership of Prime Minister Narendra Modi.

In a statement shared after the deal, Goyal said that “India has reached a framework for an Interim Agreement with the US,” adding that it would “open a $30 trillion market for Indian exporters.”

He highlighted that the biggest gains would accrue to MSMEs, farmers and fishermen, while noting that the expected rise in exports would create “lakhs of new job opportunities for our women and youth.”

Goyal pointed out that a key feature of the framework is the reduction in US reciprocal tariffs on Indian goods to 18%. He said this would create a “huge market opportunity” for Indian products in sectors such as textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home décor, artisanal products and select machinery in the world’s largest economy.