No Import Benefits for US Agricultural Products Under Trade Deal: Piyush Goyal

Union Commerce Minister Piyush Goyal on Saturday said that India will not extend any import benefits to the United States on agricultural products under the interim bilateral trade agreement, citing the country’s self-sufficiency in the sector.

Speaking at a press conference, Goyal said the decision was reflected in the India-US joint statement on the trade framework and was taken to protect the interests of Indian farmers and domestic producers.

Products Excluded From Import Benefits

According to the minister, the list of products that will not receive import concessions includes meat, poultry, dairy, soybean, maize, rice, wheat, cereals, millets (jowar, bajra, ragi), fruits, green tea, oilseeds, groundnuts, honey, non-alcoholic beverages, ethanol and tobacco.

He noted that India has consistently kept sensitive agricultural sectors out of trade agreements, given their critical role in the country’s economy and rural livelihoods.

Shift From Previous Trade Agreements

Goyal pointed out that the approach marks a departure from some of India’s earlier free-trade agreements with the European Union, the United Kingdom and Australia, where limited concessions were extended in select sectors.

Traditionally, India has excluded areas such as dairy, rice, wheat, meat, poultry, cereals, genetically modified foods, soymeal and maize from trade negotiations to safeguard domestic interests.

Zero Duty on Key Exports

Elaborating on the benefits of the interim trade pact, Goyal said the agreement would open access to a $30 trillion market for Indian exporters, particularly benefiting MSMEs, farmers and fishermen.

He added that several major Indian exports to the US, including gems and jewellery, pharmaceuticals and smartphones, will continue to enjoy zero-duty access.

“In this way, there are numerous products on which zero duty will be applicable in the future,” the minister said.

Benefits for Agriculture and Employment

In the agricultural sector, Goyal said multiple products will benefit from zero reciprocal tariffs, including spices, tea, coffee and related derivatives, coconut and coconut oil, vegetable wax, areca nut, Brazil nut, cashew nut, chestnut, and several fruits and vegetables.

He added that the expected rise in exports would create lakhs of new employment opportunities, especially for women and youth across the country.