Trade Deal
US deal to boost India's energy sector, farm pdts excluded - Minister Goyal
This story was originally published at 13:01 IST on 4 February 2026
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--Minister Goyal: US trade deal to strengthen India's energy sector
--CONTEXT: Minister Goyal's statement in Lok Sabha on India-US trade deal
--Minister Goyal: Both US, India kept sensitive sectors out of trade deal
NEW DELHI – The trade deal with the US is likely to help strengthen India's energy, nuclear power, and labour-intensive sectors for the government to meet the Viksit Bharat vision of 2047, Commerce Minister Piyush Goyal said in the Lok Sabha on Wednesday. He added that India's sensitive sectors such as farm and dairy were not included in the trade deal.
The US has also kept some of its sensitive sectors out of the trade deal, Goyal said in his statement on the trade deal in Parliament. New Delhi and Washington will work together to complete the paperwork related to the deal and expedite its implementation, Goyal said.
India and the US concluded the trade deal Monday after nearly a year of negotiations. Under the deal, the US has committed to cut tariffs on Indian goods to 18% from 50%. India has the lowest tariff rate among its competing peers, Goyal said.
US President Donald Trump mentioned that India had committed to cut tariff and non-tariff barriers on American goods to zero, and offered to buy over $500 billion worth of US energy, technology, agricultural, coal, and other products. The Indian government has not yet confirmed these offers.
Both sides are likely to issue a joint statement on the trade deal within a week. India's negotiations with the US will continue even after the current deal is signed. The US is India's top export destination with a share of nearly 20% in India's outbound shipments. India exported goods worth $86.51 billion to the US in 2024–25 (Apr-Mar), and had a trade surplus of $40.82 billion. End
US$1 = INR 90.47
Reported by Krity Ambey
Edited by Avishek Dutta
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