A new debate has started on India-US interim trade deal. A few days after the deal, the White House released a fact sheet on February 9, which mentioned “certain pulses” for the first time. Pulses were not included in the joint statement of 6 February, which makes this update important. Experts believe that this is a sign of opening of India’s agriculture market in a limited and controlled manner. Agriculture Minister Shivraj Singh Chouhan has made it clear that all pulses and many farm items will not be imported, so that farmers remain safe. On the other hand, US has promised duty cuts on Indian exports. The purpose of the deal is both trade balance and farmer protection.

After the tariff cut deal with the US, India seems to be rethinking its oil strategy. According to reports, an informal signal has been given to scale down Russian oil imports. Old contracts will be completed, but fresh buying will be avoided. The government’s focus is on energy security and diversification, so that India does not remain over-dependent on any one country.

Commerce Minister Piyush Goyal has clarified that the recent trade deal will not harm the interests of Indian farmers. He said that while negotiating the agreement, agriculture sector has been given top priority. Tariff protection and safeguard mechanisms have been maintained on sensitive farm products. The focus of the government is that farmers should get fair prices and there should not be undue pressure on domestic markets. According to Piyush Goyal, the objective of trade deals is not only to increase exports but also to strengthen the rural economy. He also said that India will not compromise with the long-term interests of its farmers in any deal.

A big highlight in the interim trade deal framework between India and the US is that India is planning to buy products worth $500 billion from the US in the next 5 years. This includes energy, minerals, technology products and aircraft parts. The objective of the deal is not only to increase trade but also to create strong and reliable supply chains. Crude oil, LNG and coking coal imports from the US are increasing rapidly, due to which the US has now become one of the top oil suppliers to India. However, it will be necessary to balance factors like discounted oil from Russia, higher freight cost and refinery compatibility. Overall, this deal is an important step towards diversifying India’s energy security.

India-US Trade Deal has been clearly positive for the share market and exporters. Its clear impact was visible in Textile and Auto sectors, but there are serious risks hidden in it for Agriculture sector and farmers.

Under the deal, India will gradually move towards reducing tariff and non-tariff barriers on US products to zero. This may increase imports of cheap soybean, wheat, maize, dairy and seeds from the US.

US agriculture is heavily subsidized, while Indian farmers get limited support. According to SBI report, if the dairy sector opens, there may be an annual loss of up to ₹ 1.03 lakh crore and milk prices may fall by 15%.

There is a possibility of increase in pressure on MSP and PDS also. Cheap imports may cause domestic crop prices to fall, which will increase the risk of loan and unemployment for small farmers.

Experts believe that safeguard duty and protective measures will be necessary, otherwise this deal may prove to be a double-edged sword for rural India.

After the finalization of the India-US trade deal, a strong rally has been seen in the shares of Adani Group. Adani Group’s total market cap increased by around ₹2.6 lakh crore on 3 February 2026, and many stocks showed a jump of up to 13% in early trade.

The biggest contributor to this rally was from bluechip companies like Adani Enterprises and Adani Ports & SEZ, which also pushed the benchmark indices up by about 5%.

Experts believe that this deal is a positive signal for Adani Group due to its strong presence in the US market. Stocks like Adani Enterprises, Adani Green Energy, Adani Ports, Adani Energy Solutions and Adani Total Gas were among the top gainers. However, according to analysts this rally is short-term.

Fresh buying is considered risky right now, while existing investors can book partial profits at lower levels. For long-term investors, hold strategy is considered better in volatility.

The Historic Trade Deal between US and India has finally been finalized, which has brought a big change in global trade dynamics. The US has reduced tariffs on India to 18% and the extra 25% penalty imposed on Russian oil purchases has also been removed, taking the total tariff earlier to 50%. In return, India will also move towards gradually reducing tariff and non-tariff barriers on US products to zero. India has promised to purchase more than $500 billion from the US in the coming time, which includes energy, coal, high-end tech, defense and textile sectors. Rising inflation and public pressure in the US are believed to be the main reasons behind Trump’s changed stance. There is also a strategic twist in the deal regarding purchase of oil from Russia. In comparison, India is now in a better position in export competitiveness in Asia. Strong rally has been seen in textile and auto stocks in the market.