New Delhi, 03 February (H.S.): Commerce Minister Piyush Goyal will likely deliver a comprehensive statement in Parliament on Tuesday, detailing the India-US trade deal finalized Monday via Prime Minister Narendra Modi's direct conversation with President Donald Trump.

Goyal's intervention follows Trump's public announcement hailing the pact as a phenomenal deal that slashes US tariffs on Indian goods from 50%—comprising 25% reciprocal and 25% penalty duties over Russian oil purchases—while opening American markets for pharmaceuticals, textiles, and IT services.

Negotiations, ongoing since March 2025, gained momentum post-EU FTA signing, positioning India as a counterweight to China's dominance.

The minister's address aims to quell opposition demands for immediate debate, as Lok Sabha disruptions earlier compelled adjournments over the deal's terms. Goyal, who recently affirmed no sticky issues remain and negotiations proceed sans artificial deadlines, emphasized mutual satisfaction before closure during interviews, projecting the pact as a positive, robust framework enhancing bilateral trade beyond $200 billion annually.

Hindusthan Samachar / Jun Sarkar