Speaking at a press conference, Goyal described the deal as a calibrated approach aimed at boosting trade and accelerating economic growth.
“This agreement will provide an opportunity to take India’s economy forward at a faster pace,” he said, adding that the pact ensures that the country’s 140 crore citizens will benefit and celebrate its success.
Also read: Piyush Goyal says farmers safe in US trade deal; India didn’t budge on its red lines
India opens doors selectively
Under the deal, several US products will now enter India with zero duties, including Distillers Dried Grains with Solubles (DDGS), a feed product widely used in animal husbandry.
A few wines and spirits have also been allowed, with adjustments such as the establishment of minimum import prices for alcoholic beverages.
Cosmetics have been opened to increase competition, while many computer-related products, still largely imported from abroad, have received concessions to ease market entry. In addition, certain medical devices, including fibrescopes and laparoscopes, have also been given preferential access.
Also read: Goyal says US doors open tariff free for India’s farmers and pharma
Goyal emphasised that all these openings were selective and carefully calibrated, designed to balance trade opportunities with the protection of domestic industries, reflecting India’s strategic approach in the negotiations.
India’s red lines protected
Goyal noted that India’s core agricultural interests remained fully safeguarded in the negotiations. No genetically modified (GM) products from the United States will enter India, addressing one of the government’s top concerns.
Contrary to initial fears, the agreement does not open up the entire agriculture sector. Staples and commodities produced in abundance, such as maize, rice, wheat, millets, ragi, bananas, citrus fruits, kabuli chana, sugar, soyabean, and cereals, are not part of tariff concessions.
Sensitive sectors including meat, poultry, dairy products, ethanol, and tobacco were also excluded from the deal, reflecting India’s careful approach in balancing trade opportunities with domestic protection.
Further, Goyal stressed that the agreement does not harm the interests of farmers, MSMEs, or the handloom and handicraft sectors, ensuring that India’s key economic stakeholders remain shielded even as trade is expanded.
Also read: Modi hails interim trade framework with US as big win for jobs, MSMEs and startups
Zero duty levies on select exports
At the same time, the agreement provides significant openings for Indian exports. Several agricultural and horticultural products–including tea, spices, coffee, coconut oil, vegetable wax, areca nuts, chestnuts, avocado, guava, mango, kiwi, papaya, pineapple, mushrooms, vegetable roots, barley, bakery products, cocoa products, sesame seeds, and poppy–will now enter the US market with zero additional tariffs.
Beyond agriculture, the deal also extends zero duties to pharmaceuticals worth $13 billion and smartphones, while keeping India’s overall tariff profile lower than competitors such as China, Bangladesh, and Vietnam. These provisions are expected to enhance the competitiveness of Indian products in global markets and open new avenues for exporters.
Goyal described the finalised joint statement as a milestone, noting that the agreement combines expanded trade opportunities with strong protections for sensitive sectors. He called it a historic moment that reinforces India’s path toward economic growth and global trade leadership.