US trade deal won't hurt Indian farmers, says Piyush Goyal
India's Commerce Minister, Piyush Goyal, says the upcoming trade deal with the US will make sure Indian farmers and the dairy sector stay protected.
Speaking at a summit in Mumbai, he emphasized that the agreement is designed so local agriculture won't lose out.
The final details are still being worked out, but this will be India's ninth big trade pact.
Dairy market won't be opened up
Goyal made it clear that India isn't opening up its dairy market in these deals—so small farmers don't have to worry about competing with giant global companies.
Even developed countries like the US have agreed to respect this stance.
The interim agreement is almost ready, likely to be signed in March, and both countries plan to lower some tariffs from 25% down to 18%, making business a bit smoother on both sides.