Indian Commerce and Industry Minister Piyush Goyal provided insights into the recent trade deal with the U.S., clarifying that no exemptions were given for agriculture and dairy products, including soybean oil and dals.
In a recent interview with Aaj Tak, Indian Commerce and Industry Minister Piyush Goyal addressed concerns regarding the trade deal between India and the United States. He emphasized that there have been no concessions granted to the U.S. on agricultural and dairy products, ensuring that farmers' interests are protected. He listed various agricultural products that remain unaffected by the trade negotiations, highlighting the importance of maintaining India's agricultural integrity amidst changing trade dynamics.
Goyal clarified that while certain imports such as soybean oil and dals have been ongoing, this agreement has not led to any new exemptions. He noted that soybean oil has been imported from the U.S. for years, and these imports were permitted even during previous administrations. The current government is ensuring that any exemptions do not disadvantage Indian farmers, and adjustments are being made, including implementation of quotas where necessary.
Additionally, he pointed out that the U.S. is importing significant amounts of bananas with zero tariffs, which contrasts with the careful management of other agricultural imports. The Minister's statements suggest a balanced approach to trade, aiming to enhance agricultural imports from the U.S. while safeguarding local interests, particularly in sensitive sectors like dairy and grains, which are crucial for India's farmers.
