Union Minister Piyush Goyal on Monday described the India–US trade agreement as a “game-changer” for India’s economic growth, stating that the pact significantly reduces tariffs and opens access to a vast global market while safeguarding domestic interests.
Addressing the media in Mumbai, Goyal said that all nine free trade agreements finalised under Prime Minister Narendra Modi have protected sensitive sectors while allowing calibrated market access. Referring to the United States agreement, he noted that tariffs have been brought down from 50 per cent to 18 per cent, with nearly half of India’s exports to the US expected to become duty-free. He added that India has secured comparatively lower tariffs than several competing economies.
The minister said provisions such as importing cotton or yarn from the US for processing and re-export are consistent with long-standing foreign trade and SEZ policies. According to him, such measures will boost textile exports, generate employment, and enhance foreign exchange earnings.
Goyal also criticised Congress leader Rahul Gandhi, alleging that his comments on the trade deal misrepresent economic realities and create confusion among farmers and exporters.
Highlighting budgetary allocations, Goyal said Maharashtra will benefit significantly, with around ₹1 lakh crore in state-related provisions and ₹24,000 crore allocated under the Railway Budget. He added that ₹12.21 lakh crore has been earmarked nationally for infrastructure development, reflecting a focus on economic expansion and employment generation.
Calling the vision of “Developed India by 2047” a collective commitment, Goyal said the 2026 Budget aims to strengthen the economy, create opportunities for youth, and promote self-reliance under stable and predictable policies.
