New Delhi, 07 February (H.S.): Commerce and Industry Minister Piyush Goyal asserted on Saturday that the interim India-US trade framework exemplifies the burgeoning depth, trust, and dynamism of bilateral ties, unequivocally safeguarding Indian farmers while granting zero-duty entry for agricultural produce into America.

At a press briefing expounding the government's stance, Goyal hailed the accord—forged under President Donald Trump and Prime Minister Narendra Modi—as pivotal to Viksit Bharat, a boon for MSMEs employing multitudes of women and youth, and a golden gateway to the $30 trillion US economy via most-favoured duties.

He elaborated that zero tariffs apply to tea, coffee, smartphones, bananas, guavas, mangoes, generic drugs, auto parts, gems, and jewellery, alongside labour-intensive sectors like textiles, apparel, leather, footwear, toys, and handicrafts—poised to spawn millions of jobs and invigorate domestic manufacturing.

Goyal underscored comprehensive protections: no concessions on dairy, sugar, or coarse grains like millets, jowar, bajra; quota-based apple imports at ₹80/kg minimum; duty waivers for US alcohol, cosmetics, medical devices—ensuring negligible impact on farmers, MSMEs, and artisans.

India grants America duty relief in non-sensitive domains while securing reciprocal zero tariffs on grains, barley, bakery items, cocoa products, sesame/khuskhus seeds, citrus juices, spices, coconut oil, areca nuts, Brazil nuts, chestnuts, and myriad fruits/vegetables—augmenting 'Make in India' via pharma, coffee, and mango exports.

The $500 billion (₹45.28 lakh crore) pact, initiated February 2025 targeting annual $500 billion turnover, heralds a historic chapter amplifying exporters' US penetration; nationwide jubilation underscores its promise as Viksit Bharat 2047's cornerstone.

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Hindusthan Samachar / Jun Sarkar