Delhi: Union Commerce Minister Piyush Goyal on Thursday said that Rahul Gandhi also claimed in Parliament that Bangladesh has got more benefits than India in the trade agreement, which is completely wrong. He clarified that just as Bangladesh gets the facility of zero reciprocal tariff on purchasing raw material from America, processing it and exporting it into clothes, India will also get the same facility. He said that at present a framework agreement is being prepared between the two countries and when the interim agreement takes its final form, its detailed provisions will be revealed.
Fully protect the interests of India and Indian farmers
Goyal clarified that the interests of India and Indian farmers have been fully protected in the US-India trade agreement. Goyal said most of the products of Indian farmers—such as dairy, poultry, rice, wheat, soybean, maize, banana, strawberry, cherry, orange, vegetables, ethanol, tobacco, meat, pulses, millets, millets and ragi—about 90-95 per cent of the production have been kept out of this trade agreement. The items that have been included have been opened in a phased manner as per the needs of India and thoughtfully, so that the farmers do not suffer any kind of loss. He said that this agreement is an excellent agreement in the interest of farmers.
What does this mean?
If America implements this, it means that after the new trade deal, America will reduce the retaliatory tariff on Indian textile and garment exports from 25% to 18%. But the clothes which will be made from cotton purchased from America will get complete exemption from retaliatory duty i.e. zero duty.
The deal has been announced this month
The trade agreement between India and America has been announced in February 2026. In this, both the countries made public the framework of the joint agreement on bilateral trade agreement. The agreement came to light earlier this month after several months of negotiations, and is planned to be formally finalized/signed by mid-March 2026. Prime Minister Narendra Modi and US President Donald Trump announced this trade agreement in February 2026.
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