Piyush Goyal Calls India-US Trade Deal a Major Breakthrough for Farmers

Commerce and Industry Minister Piyush Goyal said on Tuesday that the India-US trade agreement will create enormous opportunities for indigenous farmers, MSMEs, entrepreneurs, and skilled workers while also promoting the Make in India drive.

India and the United States have reached an agreement under which Washington will reduce reciprocal tariffs on Indian goods to 18% from the current 25%, US President Donald Trump announced on Monday after a phone discussion with Prime Minister Narendra Modi.

Goyal stated that the agreement will assist India in obtaining technologies from the United States.

Piyush Goyal Says Deal Will Boost Make in India for Global Markets

“This agreement unlocks unprecedented opportunities for farmers, MSMEs, entrepreneurs, and skilled workers to Make in India for the world, Design in India for the world, and Innovate in India for the world,” Goyal said in a post to social media.

He emphasized the collaboration of two fair-trade democracies for shared prosperity.Both India and the United States are natural allies, and our collaboration will co-create innovations, co-develop solutions, and collaborate for peace, progress, and a brighter future for both,” he said.

Piyush Goyal Welcomes Stronger India-US Economic Partnership

Commerce Secretary Rajesh Agrawal described the agreement as a “landmark trade deal” that will promote shared prosperity, innovation, and growth between the two democratic nations.Congratulations to the people of India and the United States,” he remarked.

The announcement is significant since various labor-intensive sectors, such as textiles, apparel, leather, and marine, have struggled to export goods to the United States due to 50 percent tariffs.

Exporters and experts are waiting for the United States’ executive order to gain a better understanding of the accord.

Piyush Goyal Deal Impact: Exporters Seek Clarity on Terms

According to think tank GTRI, clarity is essential regarding which items are covered by the agreement and the applicable dates.

Aqeel Panaruna, Chairman of Florence Shoe Company and Director of Grand Atlantia Panapakkam SEZ PvT Ltd, welcomed the agreement, saying it will strengthen India’s worldwide leadership.

According to S C Ralhan, President of the Federation of Indian Export Organizations (FIEO), this will significantly improve the competitiveness of Indian exports in comparison to Asian suppliers.It is expected to result in an immediate and significant release of orders that were previously held up, particularly in labour-intensive industries such as apparel, textiles, leather, and footwear, where global buyers normally lock in summer season sourcing by December,” Ralhan added.

According to Commerce Ministry data, India’s merchandise exports to the United States fell 1.83 percent to USD 6.88 billion in December 2025 as a result of hefty tariffs imposed by America.

Exports fell in both September and October of previous year. However, it increased 22.61 percent in November.

Imports increased 7.57 percent to $4.03 billion in December 2025.

During the April-December period of this fiscal year, the country’s exports to the United States jumped 9.75 percent to USD 65.87 billion, while imports increased 12.85% to USD 39.43 billion.

The United States has placed a 50 percent tariff on Indian goods entering American markets beginning August 27.