Momentum builds in India’s trade diplomacy as the US interim agreement nears March signing and April rollout. Commerce and Industry Minister Piyush Goyal confirmed this timeline Friday, signaling a new era of economic partnerships.
Indian-US teams meet from February 23 to seal the legal draft. A recent joint statement heralded tariff cuts to 18% on Indian exports, down from 50%, easing paths for businesses.
Broader updates include prospective April launches for UK and Oman FTAs, with New Zealand following in September. Goyal’s mantra: inclusive growth. Every small enterprise and startup deserves global trade dividends.
‘We’re nurturing fresh exporters to conquer world markets,’ he declared. The US deal, he added, artfully merges export boosts, consumer safeguards, and sovereignty.
India’s $4 trillion GDP lent negotiating leverage, preserving vital self-reliance areas. Key exclusions: rice, wheat, maize, millets, dairy products—to avert any fallout on farmers.
US demands on dairy, poultry, meat, grains, soybeans firmly rebuffed. India greenlit access sparingly—for essentials or non-excess items like premium nuts and liquors under strict pricing.
Strategically crafted, this pact promises export surges without exposing core strengths. As deadlines approach, India’s global trade stature strengthens, heralding prosperity for its diverse business ecosystem.