India, US reach framework for interim trade agreement
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Indian lawmakers from the ruling coalition praised Prime Minister Narendra Modi for striking a deal with the U.S. to reduce tariffs on Indian goods.
According to a Reuters report, India has agreed to purchase petroleum, defence equipment and aircraft from the United States, while also partially opening its tightly regulated agriculture sector under a trade agreement.
Addressing the Lok Sabha, Goyal said the Centre had ensured full protection for sensitive sectors such as agriculture and dairy, which have traditionally remained red lines in India’s trade negotiations. “We have been successful in protecting India’s sensitive sectors, including agriculture and dairy,” he told the House.
Commerce Minister Piyush Goyal, in a press briefing, said agriculture and dairy sectors are fully protected, no US farm or dairy products get market access, to safeguard millions of small farmers and cooperatives from cheap imports.
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New Delhi: India has completely protected its agriculture and dairy sectors in the trade agreement with the US, Union Commerce Minister Piyush Goyal said on Saturday, February 7, adding that the trade pact will open a USD 30 trillion market for Indian exporters,