Trade Deals With US, UK, EU to Fast-Track Viksit Bharat: Piyush Goyal
Minister says tariff relief and market access will power jobs, MSMEs, and India’s global supply chain ambitions.
India’s trade engagements with the United States, United Kingdom, and European Union will accelerate the Viksit Bharat mission, Commerce and Industry Minister Piyush Goyal said.
He described the recent conclave with the three partners as a historic milestone for India’s growth strategy.
The remarks came during a high-level meeting with 35 Export Promotion Councils (EPCs) and industry association leaders.
- Focus: deeper market access
- Beneficiaries: farmers, MSMEs, professionals, artisans
- Objective: faster progress toward Viksit Bharat
Crafted for Grassroots Growth
Goyal said the trade agreements were intentionally designed to support India’s productive base.
The deals aim to give farmers, MSMEs, professionals, and artisans access to developed consumer markets.
At the same time, he reaffirmed the government’s commitment to protect sensitive agriculture and dairy sectors.
- Expanded global access for Indian goods and services
- Safeguards for agriculture and dairy
- Balanced liberalization approach
The message: open markets, but not at the cost of vulnerable sectors.
US Tariff Rollback Restores Competitive Edge
A key milestone cited was the U.S. Executive Order dated February 6, 2026.
The order removed the additional 25% tariff on major Indian imports.
That decision restores immediate price competitiveness to labor-intensive sectors.
- Gems & jewellery
- Textiles
- Leather
- Engineering goods
Goyal said the move would help preserve millions of jobs in India.
In trade, a 25% tariff is the difference between winning contracts and losing them overnight. Its removal changes the equation instantly.
Push for Quality and Global Competitiveness
The minister urged industry to rethink its export strategy.
He called for a shift beyond traditional models toward a more aggressive global approach centered on quality and competitiveness.
- Upgrade product standards
- Strengthen branding
- Integrate into global value chains
India, he suggested, must position itself as a trusted supplier in a rapidly evolving trade landscape.
Export Promotion Mission Expansion
To support that shift, the government is expanding the Export Promotion Mission (EPM).
The program will offer Interest Subvention Support (ISS) and collateral-free credit guarantees to eligible businesses.
The goal is to help Indian firms evolve into trusted global supply chain partners.
- Financial assistance for exporters
- Lower borrowing costs
- Risk mitigation for scaling globally
Can these trade deals become the launchpad for India’s next export surge?
Goyal’s message was clear: strategic trade partnerships, combined with targeted domestic support, will help anchor India’s journey toward developed-nation status.
TL;DR: Commerce Minister Piyush Goyal said trade deals with the US, UK, and EU will accelerate the Viksit Bharat mission. A US Executive Order removed a 25% tariff on key Indian imports, restoring competitiveness for labor-intensive sectors. The government is expanding financial support under the Export Promotion Mission.
AI summary:
- Trade conclave termed historic milestone
- 25% US tariff removed on key imports
- Boost for gems, textiles, leather sectors
- Agriculture and dairy remain protected
- Export Promotion Mission expanded
