Addressing the media in New Delhi on Wednesday, Union Minister Piyush Goyal said the India–US trade deal strengthens India's position in the global economy and safeguards the interests of sensitive sectors such as agriculture and dairy. He said Prime Minister Narendra Modi has consistently prioritised these sectors to ensure a secure and prosperous future for farmers and producers. Goyal added that the deal adequately protects India's core interests.
The Minister said the agreement will benefit several sectors, including MSMEs, textiles, gems and jewellery, leather goods and marine products. He added that the deal will also facilitate access to world-class technologies, further powering India's growth and economic expansion. Goyal said the final contours of the agreement are being worked out and an India–US joint statement will be issued shortly.
Goyal also criticised Leader of Opposition Rahul Gandhi and other Opposition leaders for allegedly misleading the public and creating confusion over the trade deal.
Industry bodies welcomed the agreement. ASSOCHAM President Nirmal K. Minda told Akashvani News that the deal is a major breakthrough, particularly with the US reducing tariffs on Indian exports to 18 per cent, which will boost "Made in India" products and improve access to the world's largest economy. The Confederation of Indian Industry (CII) also hailed the deal, calling it a significant step in strengthening the India–US strategic economic partnership. CII President Rajiv Memani said the tariff reduction would enhance global competitiveness, spur manufacturing growth, create jobs and strengthen resilient supply chains.
Today in the Lok Sabha, I was scheduled to deliver a statement regarding the #IndiaUSTradeDeal.
— Piyush Goyal (@PiyushGoyal) February 4, 2026
However, when the Government came prepared to provide a factual clarification on the subject, the Opposition began creating a ruckus.
Consequently, I am releasing my full statement… pic.twitter.com/Hy9z03ZfhA
During Goyal's statement in the Lok Sabha, Opposition members continued protests over the 2020 India–China stand-off and the unpublished memoir of former Army chief M.M. Naravane. Later, Goyal posted on X that although the government was prepared to provide factual clarification on the trade deal, disruptions in the House prevented him from delivering his full statement, prompting him to release it publicly.
In the Rajya Sabha, Opposition members sought clarifications after Goyal's statement, but Chairman C.P. Radhakrishnan disallowed questions, citing rules and the sensitivity of the matter. DMK's Tiruchi Siva and CPI(M)'s John Brittas objected to the decision, while senior Congress leader Jairam Ramesh was not allowed to speak due to continued disorder in the House.
