Commerce and Industry Minister Piyush Goyal addressed concerns about the impact of the trade deal with the United States on the agricultural sector, saying the US market will provide farmers with much greater value and their incomes will increase.
In an interview with PTI, Goyal assured that the proposed agreement will “ultimately help our farmers,” who already export $55 billion of agricultural and fish products.
He further rejected criticism that India gave more to the US by accepting an 18% tariff on its goods and granting duty-free access. He argued that the proposal will benefit Indian exports by providing them with a competitive edge over higher tariffs on Chinese and other foreign products.
The Union Minister’s clarification comes after various farmer organisations criticised the India-US trade deal and announced protests across the country.
Samyukt Kisan Morcha (SKM) claimed that the proposed interim trade agreement framework between India and the US represents a “total surrender” of Indian agriculture to American multinational corporations, PTI reported earlier, citing an official statement.