India-US interim trade deal: What ministers said on exports, jobs and farmer safeguards

According to the joint statement, both sides will implement the framework and work towards finalising the Interim Agreement, with a view to concluding a comprehensive and mutually beneficial Bilateral Trade Agreement in line with the agreed roadmap.

• India and US reveal interim trade deal framework to boost exports and jobs
• Key farm sectors protected; dairy, grains, vegetables, spices exempt from tariffs
• US and India to lower tariffs on each other's goods

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Cabinet ministers, on Saturday, hailed the framework of the India-United States interim trade agreement, calling it a major boost for exports, job creation and economic ties, while underlining safeguards built in to protect domestic farmers and key sectors.

Union Commerce and Industry Minister Piyush Goyal said the framework would unlock access to a USD 30 trillion market for Indian exporters, particularly MSMEs, farmers and fishermen.

“Under the decisive leadership of PM Narendra Modi, India has reached a framework for an Interim Agreement with the US. This will open a USD 30 trillion market for Indian exporters, especially MSMEs, farmers and fishermen. The increase in exports will create lakhs of new job opportunities for our women and youth,” Goyal said in a post on X.

Under the decisive leadership of PM @NarendraModi ji, India has reached a framework for an Interim Agreement with the US. This will open a $30 trillion market for Indian exporters, especially MSMEs, farmers and fishermen. The increase in exports will create lakhs of new job… pic.twitter.com/xYSjxML6kt

— Piyush Goyal (@PiyushGoyal) February 7, 2026

Goyal also underlined that key agricultural sectors had been protected to safeguard domestic interests.

“Farmers Safe, Country Developed… In the India-US trade agreement, dairy, fruits, vegetables, spices, and other grains have been protected. This will safeguard the interests of domestic farmers, strengthen local agriculture through preferential access to such a large market, and mark another powerful step forward in the direction of a self-reliant India,” he said.

Finance Minister Nirmala Sitharaman also welcomed the agreement, reiterating India’s commitment to deepening bilateral ties.

India-US issue a joint statement: announces “a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).” We remain committed to negotiating the broader U.S.-India Bilateral Trade Agreement (BTA). UNITED STATES-INDIA JOINT… — Nirmala Sitharaman (@nsitharaman) February 7, 2026

“India-US issue a joint statement: announces ‘a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).’ We remain committed to negotiating the broader U.S.-India Bilateral Trade Agreement (BTA),” Sitharaman said in a post on X.

Parliamentary Affairs Minister Kiren Rijiju said the framework would generate “lakhs of new job opportunities” for women and youth, while benefiting farmers, fishermen, MSMEs and Indian exporters.

Congratulations to people of India & US on the Framework for an Interim Agreement. Under the leadership of Hon’ble PM @NarendraModi ji, India is securing agreements with major countries which will primarily benefit the Indian exporters, especially MSMEs, farmers and fishermen.… pic.twitter.com/2rdJoLlV4z

— Kiren Rijiju (@KirenRijiju) February 7, 2026

“Congratulations to the people of India & the US on the Framework for an Interim Agreement. Under the leadership of PM Narendra Modi, India is securing agreements with major countries which will primarily benefit the Indian exporters, especially MSMEs, farmers and fishermen. The increase in exports will create lakhs of new job opportunities for our women and youth,” Rijiju said in a post on X.

Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal described the agreement as a “monumental leap” in India–US relations, saying it would unlock the full potential of bilateral economic ties.

“A monumental leap in India-US partnership! Under the visionary leadership of PM Narendra Modi, India has reached a landmark framework for an Interim Trade Agreement with the US. By ensuring reciprocal market access, rationalising tariffs and strengthening supply chains, this agreement will unleash the full potential of our economic ties, creating new opportunities for our youth, farmers and industries. This partnership is a cornerstone for global stability and a shining example of cooperation that will help realise the Viksit Bharat vision,” Sonowal said.

CIM Goyal later shared a detailed list of protected items. These include dairy products such as milk, cheese, cream, butter, yoghurt, ghee and whey products; grains including wheat, rice, maize, millet, barley, oats, sorghum and ragi; vegetables such as frozen potatoes, peas, beans, cucumbers, mushrooms and mixed canned vegetables; and spices including black pepper, chilli, cinnamon, coriander, cumin, ginger, turmeric, mustard, fenugreek and asafoetida.

The framework for an Interim Agreement on reciprocal and mutually beneficial trade was announced jointly by India and the U.S. as a step towards advancing negotiations for a broader US-India Bilateral Trade Agreement (BTA), launched by Prime Minister Narendra Modi and US President Donald Trump in February 2025, according to a joint statement by the White House and India’s Commerce Ministry.

Under the framework, the U.S. will apply a reciprocal tariff rate of 18 percent on Indian-origin goods, including textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home décor, artisanal products and certain machinery. The US will also remove tariffs on certain Indian aircraft and aircraft parts imposed earlier on national security grounds.

India, in turn, will eliminate or reduce tariffs on all US industrial goods and a wide range of US food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits, and additional products.

As part of the broader economic engagement, India has also expressed its intention to purchase USD 500 billion worth of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over the next five years. Both sides have agreed to significantly increase trade in technology products, including graphics processing units used in data centres, and to expand joint technology cooperation.

According to the joint statement, both sides will implement the framework and work towards finalising the Interim Agreement, with a view to concluding a comprehensive and mutually beneficial Bilateral Trade Agreement in line with the agreed roadmap.