PIYUSH GOYAL ASSURES FARMERS OF PROTECTION AS INDIA AND US WORK TO FINALISE TRADE AGREEMENT

October 29, 2026

New Delhi | October 29, 2026

Union Commerce and Industry Minister Piyush Goyal has asserted that India will not compromise the sensitive interests of farmers or any other stakeholder while finalising the proposed trade agreement with the United States. He expressed confidence that the agreement would demonstrate the government’s commitment to protecting domestic interests while expanding international trade opportunities.

Speaking at the Fourth National Conference of the Institute for Studies in Industrial Development (ISID) and the Industrial Development Research Association (IDRA) on Thursday, Goyal said he believed the Indian public would welcome the agreement once its details were made available. He also criticised those questioning the negotiations before the full terms had been disclosed.

The minister argued that the success of trade agreements should be measured not merely by the overall value of trade but by the competitive advantages they offer Indian businesses compared with rival economies. He defended eight free trade agreements already concluded by India, challenging critics to identify flaws in the agreements whose details had been published.

Goyal said India’s newer trade agreements had opened preferential market opportunities in economies representing approximately $60 trillion in gross domestic product, compared with around $10 trillion under agreements concluded before 2014. He highlighted labour-intensive industries, including textiles, where Indian exporters had faced competition from countries such as Bangladesh and Vietnam.

Beyond market access, the minister said trade agreements could strengthen cooperation in investment, education, skill development, technology and climate-related objectives, supporting India’s integration into the global economy.

However, the India–US agreement is still being finalised, and its complete terms have not yet been made public. The actual implications for farmers, domestic industries, consumers and exporters will therefore depend on the provisions ultimately agreed upon by the two countries.