Piyush Goyal Says India-US Interim Agreement Opens $30 Trillion Market
India-US interim trade framework grants $30 trillion market access to exporters, especially MSMEs, farmers and fishermen.
The Indian government has announced that the recently signed trade agreement with the United States is expected to open up a $30 trillion market for Indian exporters. Union Minister Piyush Goyal stated that the pact will significantly enhance trade ties between the two nations and provide new opportunities for Indian businesses across multiple sectors.
Speaking at a press conference in New Delhi, Goyal emphasized that the agreement is designed to reduce trade barriers and streamline regulatory procedures, making it easier for Indian companies to access the US market. "This is a transformative step for Indian exporters. It will not only boost our exports but also create new employment opportunities across industries," he said.
Industry experts noted that the agreement could particularly benefit sectors such as information technology, pharmaceuticals, textiles, and automotive components. By offering better market access and reducing tariffs, Indian exporters are expected to gain a competitive advantage in key US markets.
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The government also highlighted that the pact includes provisions for protecting intellectual property rights, ensuring a level playing field for Indian businesses, and fostering long-term economic collaboration. These measures are expected to attract more foreign investment into India while supporting the growth of domestic enterprises.
Trade analysts have pointed out that India-US trade has been steadily increasing in recent years, and formalizing such agreements could accelerate growth even further. The pact is seen as a strategic move to strengthen economic ties between two of the world’s largest economies amid a shifting global trade landscape.
With implementation set to begin in the coming months, Indian exporters are preparing to leverage the new opportunities, and government agencies have pledged support in facilitating smooth entry into the US market. Officials say that this agreement could mark a new chapter in India’s export-driven economic strategy.
Also Read: India Strikes Best Neighbourhood Trade Deal With US at Just 18% Tariff, Says Piyush Goyal
