India remains steadfast in ensuring that trade liberalisation does not compromise the welfare of its farmers, dairy producers, or workers, Commerce and Industry Minister Piyush Goyal asserted at the Udyog Samagam 2025 conference.
Reaffirming the government’s commitment to equitable trade partnerships, Goyal noted that while India is keen on forging strategic trade deals, it would not accept terms that undermine sensitive domestic sectors such as agriculture and dairy.
“India is not going to compromise with the interests of farmers, dairy, and workers. We are working on a fair, equitable, and balanced trade deal,” Goyal said.
Cautious Yet Progressive Trade Talks
India and the United States have already completed five rounds of bilateral trade negotiations to develop a comprehensive, WTO-compliant framework. According to officials, the process is advancing cautiously to ensure that the agreement upholds national priorities.
An official source confirmed that further negotiation rounds may not be required until the US responds to India’s latest proposals.
“We negotiated very cautiously, keeping in view the interests of our sensitive sectors,” the official said.
The talks, led by Commerce Secretary Rajesh Agrawal, took place in Washington from October 15–17 and addressed key issues, including tariffs on agricultural and dairy products.
Expanding Trade Horizons Beyond the US
India is also diversifying its trade partnerships. Talks with New Zealand for a Free Trade Agreement (FTA) are nearing completion, with New Zealand Trade Minister Todd McClay expected to visit India on Friday to accelerate the process.
Meanwhile, negotiations for the India-EU Trade Pact are progressing, with EU Trade Commissioner Maros Sefcovic scheduled to visit New Delhi in mid-December. These developments highlight India’s strategy of engaging multiple global partners while protecting domestic value chains.
Trade Goals and Economic Impact
The proposed India–US Trade Pact aims to more than double bilateral trade to $500 billion by 2030 from the current $191 billion. The United States remains India’s largest trading partner for the fourth consecutive year, with $131.84 billion in trade during FY2024–25.
However, analysts note that tariff barriers, particularly the 50 per cent US tariff on Indian goods imposed during the Trump administration, have constrained growth in critical sectors such as fisheries and dairy.
By maintaining a calibrated and defensive negotiation stance, India seeks to secure access to new markets, safeguard livelihoods, and ensure long-term sustainability for its agricultural and dairy ecosystems.
