India-US Trade Deal Sparks Debate: Piyush Goyal Hails 'Best Deal in Region' Amid Questions Over Details

Image Source: Internet

The India-US trade deal, announced by President Donald Trump and confirmed by PM Narendra Modi, has sparked a heated debate in New Delhi. Union Minister of Commerce and Industry, Piyush Goyal, has hailed the agreement as the 'best deal in the region,' but faces criticism for lack of details. Goyal appeared on TV on Tuesday evening to share some details and clear the air around the deal, but mainly focused on praising the agreement. He claimed that the deal will benefit all 140 crore Indians, from farmers to fisherfolk, but did not provide specific details. The deal aims to reduce India's tariffs on US products to zero, with the US administration lowering reciprocal tariffs on Indian goods from 25% to 18% effective immediately. However, controversy has erupted over Trump's unilateral declaration that India will 'move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO.' Opposition leaders have questioned whether this creates an uneven playing field, where India pays 18% while the US pays nothing. Economic experts note that while the 18% rate is higher than pre-Trump levels, it remains more favorable than the tariffs currently faced by regional peers like Indonesia and Bangladesh. The deal also raises concerns over the agricultural sector, which supports nearly half of India's population and contributes 18% to the national GDP. While the Indian government has insisted that agriculture is a 'red line' that will not be compromised, US agriculture secretary Brooke Rollins has declared the deal a victory that will liberalise agricultural imports to India. The Indian government has not yet released the full tenets of the deal, though Union Minister JP Nadda has assured Parliament that a formal statement and discussion will take place. The lack of transparency has sparked a political firestorm in New Delhi, with Opposition leaders calling for the text of the deal to be debated in Parliament. The deal has also sparked a war of words between the government and the Opposition, with Piyush Goyal accusing Rahul Gandhi of having a 'negative mentality' and being 'anti-national.' The controversy surrounding the deal is expected to continue in the coming days, with the Indian government facing pressure to provide clarity on the terms of the agreement.