India-US Trade Deal Safeguards Fertiliser & Agriculture Sectors

Union Commerce and Industry Minister Piyush Goyal promised that sensitive industries like fertilisers and agriculture in the India-US trade agreement are well safeguarded by the Indian government.

Speaking before the Rajya Sabha, he pointed out that the Agreement would open up large opportunities to small and medium businessmen, MSMEs, industrialists, skilled employees, and other industries in both countries.

“The deal will act as a catalyst to strengthen manufacturing, expand employment opportunities, and propel economic growth, while unlocking new business avenues for both nations,” Goyal said.

Also Read: India-EU Free Trade Deal: Which Sectors Are Set to Thrive in India

Goyal also pointed out that the India-US trade deal will be realized in the near future once all the important processes are accomplished, and both parties will be able to maximize the potential. He also promised that the government is determined to protect the energy needs of 140 Crore Indians, and hence it is one of its main priorities.

Furthermore, as Goyal reported, the US President Trump has additionally declared a decrease in the tariff on Indian exports to the United States and reduced it to 18. This is less as compared to tariffs charged by the United States to some of the rival countries, and the Indian exports will be more competitive in the American market.

The statement made by the minister showed that the deal would be a major boost to Indian exports and improve trade relations of the country on a world scale. The fine points of the trade deal will be published shortly after the paperwork is finished, which will create new prospects for bilateral development.