India-US trade deal top points: Piyush Goyal highlights benefits amid Opposition criticism

India-US trade deal LIVE: Commerce minister Piyush Goyal addressed the Upper House on Wednesday as he highlighted how the trade deal would benefit India.

India-US trade deal LIVE: “This strategic agreement with the world’s largest economy, which will accelerate global growth and innovation in the coming years, is in the larger interest of the people of India and the nation. It strengthens both a Developed India and a Self-Reliant India. We will continue to work relentlessly to translate this vision of the honourable Prime Minister into reality for our country,” Goyal said in the Rajya Sabha.

India-US trade deal LIVE: As Opposition criticised the trade deal, commerce minister Piyush Goyal said in the Parliament on Wednesday that the lowered tariffs will increase the competitiveness of Indian exports in the US markets. “I want to emphasise that the tariff imposed by the United States on Indian exports is lower than those imposed on many competing countries. This will increase the competitiveness of Indian exports in the US market. This agreement provides significant comparative advantages to Indian exporters, especially in labour-intensive sectors and manufacturing,” he said.

India-US trade deal LIVE: India-US trade deal complements India's manufacturing push under the PLI schemes, supports export diversification, and advances its goal of moving up the global value chain, says a report by Axis Direct. For the US, India represents a large and dependable market, as well as a strategic manufacturing alternative in key sectors. The report noted that for Indian markets, "the deal aligns well with its manufacturing push (PLI schemes), export diversification strategy, and ambition to move up the global value chain. For the US, India offers a large, reliable market and a strategic manufacturing alternative in critical sectors."

India-US trade deal LIVE: Commerce minister Piyush Goyal on Wednesday assured the Lok Sabha MPs that India had successfully safeguarded the interests of the agriculture and dairy sectors in the trade deal with the United States. “Since PM Modi's US visit in February 2025, the two nations have been discussing a balanced and profitable trade deal. In the last year, negotiators from both sides have held talks at several levels. It is obvious that, looking at their respective economies, both nations would like the best result to safeguard the sensitive economic sectors. India has been successful in safeguarding the interests of sensitive sectors, such as agriculture and dairy. The US also had some sensitive sectors. After one year of talks, negotiators from both sides ensured the trade deal,” Goyal said.

India-US trade deal LIVE: US Congressman and co-chair of the India Caucus, Rich McCormick said the India-US trade deal will be beneficial for India more than being with Russia. "When two leaders of two great nations get together and actually decide what to do collectively, it does not really matter who is responsible. It is a matter of what the result is. When you look at the long-term benefits it will have on the Indian economy, because Russia is not the answer... But the United States has a $30 trillion economy. Who do you want to do business with? It makes sense. It is going to benefit India dramatically in the future... Russia is a bad guy... Putin is not behaving well," he said.

via ANI

India-US trade deal LIVE: Congress member Pramod Tiwari on Wednesday raised a point of order in the Rajya Sabha, expressing concern over commerce minister Piyush Goyal holding a press conference on the Indo-US trade deal outside Parliament while the session was ongoing.

India-US trade deal LIVE: The China+1 strategy will play out, finance minister Nirmala Sitharaman asserted in an interview to HT recently as she spoke about a trade deal India and the US announced on Monday. China+1 is a strategy aimed at getting businesses to reduce reliance on China and expand their investment fields to other countries. The term was coined back in 2013 after witnessing an overconcentration of global businesses in China, largely driven by the country's low manufacturing costs. In simple terms, the strategy aims to have businesses add at least one more country apart from China to their investment pool.

India-US trade deal LIVE: Amid Opposition's demand for sharing the details of India-US trade deal, commerce minister Piyush Goyal on Wednesday said India has protected its interests in sensitive sectors such as agriculture and dairy under the trade agreement with the United States. While addressing the Lok Sabha, Goyal said that the deal would support the goals of Viksit Bharat and strengthen the Atmanirbhar Bharat initiative .Goyal said the India–US trade agreement would boost exports from labour-intensive sectors and enhance the global competitiveness of Indian exporters.

India-US trade deal LIVE: The Lok Sabha proceedings have been adjourned till 2pm as Opposition MPs disrupted commerce minister Piyush Goyal's speech on India-US trade deal.

India-US trade deal LIVE: Commerce minister Piyush Goyal on Wednesday said India's priority is to ensure energy security for its citizens. Goyal was speaking in the Lok Sabha on the US-India trade deal amid noisy protests from the Opposition.

India-US trade deal LIVE: High drama unfolded in Rajya Sabha on Wednesday after opposition MPs staged a walk out demanding a discussion on the India–US trade deal as they questioned why it was announced unilaterally by United States President Donald Trump.

India-US trade deal LIVE: External affairs minister S Jaishankar met US secretary of state Marco Rubio in Washington. The development being closely watched for further steps to put India-US ties on an even keel after a year of unprecedented strains following the announcement of a trade deal, people familiar with the matter told HT. Jaishankar, in the US to participate in a ministerial meeting on critical minerals convened by Rubio on February 4.

India-US trade deal LIVE: Samajwadi Party chief Akhilesh Yadav on Wednesday slammed the Centre and termed the India-US trade deal a "dheel" (relaxation), alleging that if US dairy and farm products are imported to India, the 'Sanatanis' will find it difficult to observe their fasting rituals. “The deal with the US is not a 'deal' but a 'dheel' (relaxation). We have handed over our entire market to them. Sanatanis will have to think about how their fast will continue to be 'Sanatani'. If dairy products come from there, how will Sanatanis and Indians fast? It is a matter of concern. Where are the BJP allies who raised the slogans of Swadeshi? The nation wants to know about the deal,” Akhilesh was quoted as saying by ANI.

India-US trade deal LIVE: Amid opposition's criticism of the India-US trade deal, Congress MPs protested on the stairs of the Parliament on Wednesday with a poster that read 'PM is compromised'.

India-US trade deal LIVE: Congress leader Jairam Ramesh cornered the government as he sought details of the India-US trade deal saying 36 hours have passed since President Trump announced the deal. “36 hours have passed since President Trump said that the India-US trade deal was being announced and coming into effect immediately at Mr. Modi’s request. Spin doctors are at work, but we still don’t have any details on the deal - although it is clear that India has made concessions on liberalising imports of agricultural items. There is not even a joint statement. It is absolutely clear that Mr. Modi pushed through the announcement. Why?" he wrote on X.

India-US trade deal LIVE: Punjab Congress president Amarinder Singh Raja Warring on Tuesday expressed grave concern over the provision of “zero tariffs” on US imports under the proposed Indo-US trade deal, apprehending that agricultural products could also be included. Warring said that the lack of clarity on the matter had created genuine apprehension among farmers, particularly in the state, that agricultural products will be allowed into the country without any tariff. Such a move would sound the death knell for the agricultural economy, he warned. “There are genuine fears and apprehensions among farmers across the country, Punjab in particular, over the Modi government succumbing to US pressure by agreeing to ‘zero tariffs’ on US imports, while Indian products continue to face an 18 per cent tariff,” he said, adding that if agricultural products were included under the zero-tariff regime, it would devastate farmers and lead to a collapse of the agricultural economy across the country, with Punjab being the worst affected.

India-US trade deal LIVE: The rollback of the 50% US tariff is a lifeline for the Indian textile industry, said the Tamil Nadu-based Southern India Mills’ Association (SIMA). The sudden imposition of the 50% US tariff had posed an unprecedented challenge to the textile and clothing industry largely spread across Tamil Nadu’s districts of Coimbatore and Tirupur. Indian textile accounts for nearly 29% of total US textile and apparel imports.

India-US trade deal LIVE: India's equity benchmarks were little changed on Wednesday, a day after recording their best session in nine months following the announcement of the U.S.-India trade deal, as broad gains were offset by decline in IT stocks amid a global tech selloff. The Nifty 50 was up 0.07% to 25,746.40, while the BSE Sensex shed 0.07% to 83,678.09, as of 10:27 a.m. IST. The broader small-caps and mid-caps rose 0.7% and 0.2%, respectively. Fifteen of the 16 major sectors advanced. IT shares fell 6%.

via Reuters

India-US trade deal LIVE: Commerce minister Piyush Goyal on Tuesday emphasised that India has fully safeguarded its sensitive dairy and agriculture sectors in the trade pact with the United States, even as it opened wider opportunities for labour-intensive and export-oriented industries. Goyal said the agreement was structured to ensure that core farm segments, including dairy and key staple crops, remain protected from disruptive import competition, describing the outcome as one that respects the interests of Indian farmers while still expanding trade.

India-US trade deal LIVE: The agreement removes punitive and reciprocal tariffs on billions of dollars worth of Indian exports, while safeguarding sensitive Indian agriculture and dairy segments. The immediate winners are likely to be sectors that were hit hardest by the earlier tariff spike and are heavily dependent on the US market. Read full story here

The China+1 strategy will play out, finance minister Nirmala Sitharaman asserted in an interview to HT recently as she spoke about a trade deal India and the US sealed on Monday, bringing down tariffs on Indian imports to 18%.

Speaking to HT about the Indian currency's weakness despite India's foreign exchange reserves breaching the $700 billion mark, Sitharaman said: “Then why is the Rupee becoming weaker? Because our capital inflows are reducing. Why are capital inflows reducing? Some people have exited after booking profits, but why have they not come in? We have to convince large fund managers to come in -- but this is a problem facing not just us, but others as well.”

She further expressed hope that the India-US trade deal could turn the tide. “But after last night’s conversation, I think things will change. You will see the China+1 strategy play out fully now,” she said.

India-US trade deal LIVE: As President Trump announced the India-US trade deal on Monday, one of the highlights was Trump's caveat for India to stop Russian Oil Imports. However, there is no official word from India on this and a joint statement on the exact tenets of the deal is awaited.

India-US trade deal LIVE: US Senator Lindsey Graham said that tariffs imposed by President Trump on Delhi for its purchases of oil from Moscow are a "good example" of how things can change. Graham had recently called for 500% tariffs on countries buying oil from Russia. "President Trump has crippled Putin's economy by going after oil companies and refineries. Tariffs on India is a good example of how things can change. India is now buying dramatically less Russian oil, and if the other large purchasers would follow suit, it would help end this bloodbath," he said.