Daijiworld Media Network - New Delhi

New Delhi, Feb 3: Commerce and Industry minister Piyush Goyal on Tuesday described the recently concluded India US trade agreement as a historic and highly favourable pact — superior to similar deals in the region — that prioritises India’s strategic interests, including those of farmers, the dairy industry, and fishermen.

Speaking at a press briefing, Goyal emphasised that Prime Minister Narendra Modi leveraged his strong personal rapport with US President Donald Trump to secure terms that safeguard national priorities. The minister underlined the importance of placing India’s economic interests first in international negotiations.

According to Goyal, the agreement opens wide export potential for labour intensive sectors such as textiles, leather, seafood, and gems and jewellery by substantially reducing trade barriers with the US market. He added that engineering goods — including auto components — are also positioned to gain from the pact.

Goyal pointed out that micro, small and medium enterprises (MSMEs), which generate a significant portion of jobs nationwide, stand to benefit from a more competitive export environment thanks to lower tariffs.

The minister noted that prolonged negotiations at lower official levels had reached a stalemate before Modi’s direct engagement broke the impasse and enabled a breakthrough.

He stressed the urgency of finalising the trade agreement, noting that high US tariff rates had previously hindered shipments of Indian seafood, textiles and other products to America.

On behalf of the nation’s 1.4?billion citizens, Goyal expressed gratitude to the Prime Minister, saying the deal is a catalyst for broader economic growth and opportunity for farmers, the underprivileged, fishermen, women, and youth.

Goyal also launched a strong attack on Congress leader Rahul Gandhi, accusing him of spreading negativity and undermining national development. He claimed that past Congress governance weakened India’s economic standing and warned that similar leadership would reverse progress.

The trade agreement, announced by US President Donald Trump after a phone call with Prime Minister Modi, includes a reduction in reciprocal tariffs on Indian goods to about 18?per cent from much higher levels, contingent on India’s gradual cessation of Russian oil imports and increased US purchases. Trump highlighted the deal on social media, noting its immediate effect and framing it as a product of mutual respect and friendship.