By Admin 
A day after the announcement of the trade deal between India and America (3 February 2026), the Trump administration has said that the exact information related to this deal is still being prepared in paper form. US Trade Representative Jamieson Greer said that what is to be done under the trade deal has been decided, but it is still being finalized. He supported the statement of Union Commerce and Industry Minister Piyush Goyal.
Trump administration’s statement on India-US trade deal
According to CNBC report, Jamieson Greer said that we know about the specifics of the India-US trade deal. He said that India is maintaining some safeguards regarding agricultural products. Union Minister Piyush Goyal praised the trade deal between India and America. He said, ‘We will soon issue a joint statement from both the countries, which will contain all the information that will soon be signed between America and India.’
Interests of agriculture and dairy sectors will be protected: Piyush Goyal
The Union Minister assured that this agreement will provide immense opportunities for the people of the country and will completely protect the interests of our sensitive areas, agriculture and dairy sectors. Piyush Goyal said that this agreement will open up a lot of opportunities for Indian labour-intensive sectors like plastics, textiles, leather and footwear, jewellery, organic chemicals, rubber products, machinery and aircraft. Import duty on most of these sectors will soon be reduced to 18 percent from the current 50 percent in American markets.
The Minister said that India is a fast growing and huge economy and the demand for commodities like Communication Technology (ICT) products, Data Center equipment, Technology and Innovation products and raw materials is continuously increasing.
How will the tariff on Indian goods be reduced?
India has agreed to provide duty concessions in some sectors on the lines of concessions given under other free trade agreements (FTAs). Import duties in some areas will be eliminated from the day the agreement comes into force, while in other areas they will be gradually reduced. Tariffs will be reduced in some areas, while quota based concessions will be given in other areas.
India has always kept sensitive sectors like dairy, rice, wheat, meat, poultry, cereals, genetically processed foods, soya flour and maize out of the scope of its trade agreements.
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