India Did Not Compromise Farmers' Interests in US Trade Deal, Says Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal has asserted that India has not compromised any sensitive agricultural interests in the trade deal currently being negotiated with the United States. Speaking at the 4th ISID-IDRA National Conference on India’s Industrial Transformation in New Delhi on Thursday, October 29, 2026, Goyal expressed confidence that the Indian public will welcome the final terms once they are made public.

Goyal stated that India has secured a strong comparative advantage through the negotiations. "I have the courage of conviction to announce boldly that the US trade deal, once the details are out, the people of India are going to celebrate that not a single sensitive interest of our farmers have been compromised. On the contrary India will stand at a very strong comparative advantage," he said, adding that trade fundamentally centers on comparative advantage rather than absolute numbers.

India and the US previously announced a framework for an interim bilateral trade agreement on February 7. However, the negotiating landscape shifted following a US Supreme Court ruling that invalidated the Trump administration’s reciprocal tariffs under the International Emergency Economic Powers Act, bringing both nations back to the negotiating table. Throughout the discussions, India has pursued a deal that provides tariff advantages over competitors like Bangladesh, Vietnam, Indonesia, and Cambodia while safeguarding domestic agricultural sensitivities.

Addressing critics of the bilateral arrangement, Goyal suggested that the opposition stems from a lack of knowledge and understanding, noting that the full details have not yet been released. "That’s probably lack of understanding or lack of knowledge. Details are not yet fully out. I don’t know what they are criticising," he remarked.

The Minister also pointed to the government's track record on international trade agreements, highlighting eight other Free Trade Agreements (FTAs) finalized in recent years with Mauritius, the UAE, Australia, Oman, the EFTA bloc, the UK, New Zealand, and the EU. According to Goyal, these completed pacts have been well received by the market without drawing significant flaws.

"International trade negotiations require a delicate balance between opening up global market access and protecting domestic livelihoods, particularly in agriculture. Minister Piyush Goyal's assertion that India has secured a comparative advantage without compromising farmer interests is a critical signal for businesses and stakeholders watching international trade policy. As the final details of the US trade deal emerge, transparency and clear market positioning will be essential for domestic enterprises seeking to leverage these international frameworks for growth." — Dr. Shishir Gupta, Founder & CEO, StartupLanes