India’s new trade deal with the US, announced by President Trump on February 2, 2026, cuts tariffs from 25% to 18%. 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.

While speaking, he also said that the trade deal has not been inked as of now, but all the formalities have been completed.

“PM Modi has always championed both the agriculture and dairy sectors, safeguarding their interests and working tirelessly to ensure a bright future and ample opportunities for the people in these sectors. I am pleased that the entire country understands and appreciates this, and it resonates deeply with them. The sensitive factors of India’s economy, particularly agriculture and dairy, have been protected. We have seen reports from across the country; there is widespread enthusiasm. All those involved in India’s exports, those connected to India’s technology sector, those who want to bring modern technology to India or become part of global supply chains and global value chains, those who want to establish global capability centers, and those who want to invest in various sectors, especially labor-intensive ones that provide employment to millions of people – all are excited by this”, said Goyal

Piyush Goyal expressed confidence that the India-US trade deal would create numerous opportunities for India’s MSMEs, the engineering sector, including manufacturers of auto components, electrical parts, and various engineering goods for the US market, the textile sector, gems and jewelry, leather goods, and marine products.

Union Commerce Minister Piyush Goyal hailed the India-US trade deal, stating that PM Modi, using his strong friendship with President Trump, secured India’s best-ever agreement, better than what our neighbors or competitors got. It’s a fantastic win for all Indians.

He also condemned the opposition’s disruption in Parliament today, stating, “We had planned to discuss this there, but Congress under Rahul Gandhi—along with DMK, TMC, and Samajwadi Party allies- created a shameful scene, even reaching the Speaker’s chair and insulting him. He and the opposition are strongly condemned, forcing this briefing outside the House instead.”