Piyush Goyal: No Harmful Items for Indian Farmers in New Trade Deal

Union Commerce and Industry Minister Piyush Goyal announced on February 7, 2026, that the recently agreed interim trade deal between India and the United States will not incorporate any items that could disadvantage Indian farmers. Speaking at a press conference in New Delhi, Goyal asserted that both countries have identified numerous sectors where Indian farmers and micro, small and medium enterprises (MSMEs) will benefit from duty-free access to the U.S. market.

The interim agreement was confirmed earlier that day through a joint statement, with plans for further collaboration towards a more extensive bilateral trade agreement. This development follows U.S. President Donald Trump's executive order, which lifted the 25% tariffs on imports from India, specifically concerning trade in Russian oil. Goyal mentioned that an additional executive order is anticipated to lower the remaining reciprocal tariff from 25% to 18%.

During his address, Goyal specified that sensitive agricultural products have been excluded from the deal, emphasising that no genetically modified organisms will enter India. Furthermore, he clarified that no tariff concessions would be granted for various agricultural goods, including meat, poultry, dairy, soybeans, maize, and several fruits and grains.

Goyal outlined the categories in which tariffs on exports to the U.S. will be reduced from as much as 50% to zero. These categories include gems and jewellery, pharmaceuticals, aircraft components, machinery parts, and various food products.

Additionally, several agricultural exports will now enjoy a zero duty status where previously there were tariffs of up to 50%. Goyal detailed some of these goods, which include spices, coffee, coconut products, and various fruits and vegetables.

He acknowledged that India had agreed to cut or eliminate tariffs on items that are either essential and not produced domestically or not produced in sufficient quantities. Some items will see an immediate removal of tariffs, while others will have a phased reduction. Specific items mentioned include certain fruits, wines, and medical equipment among others.

Highlighting the agreement as a significant achievement, Goyal noted that the U.S. has committed to provide India with various information and communication technology products that are necessary for the country's needs. As discussions continue, both nations aim to deepen their economic ties through this interim agreement and the broader bilateral trade negotiations that lie ahead.