New Delhi, Feb 3 (NationPress) India's trade agreement with the United States will not jeopardize the nation's agriculture and dairy sectors, according to Commerce and Industry Minister Piyush Goyal, who responded to significant opposition criticism on Tuesday.

Suggesting that the opposition parties are expressing concerns prematurely, Goyal noted that while the formalities have been completed, the trade deal has not yet been finalized.

While Washington will gain market access to India, New Delhi will also benefit from access to the US market, although specific details remain undisclosed.

Experts assert that a well-implemented agreement with such a vast market could significantly enhance India's exports, expand market access, and highlight the strategic importance of ongoing collaboration between two of the world's largest democracies, as noted by industry leaders.

The tariffs previously imposed had negatively impacted India’s exports to the US, with exports dropping from $6.86 billion in August to $6.30 billion in October, while imports rose from $3.60 billion to $4.84 billion during the same period.

According to experts, various aspects of the deal remain unspecified.

Minister Goyal has confirmed that no American agricultural or dairy products will gain market access in India, emphasizing that New Delhi will protect millions of its small farmers and cooperatives from low-cost imports.

Instead, he stated, "this agreement opens up unmatched opportunities for farmers, MSMEs, entrepreneurs, and skilled workers to Make in India for the world, Design in India for the world, and Innovate in India for the world."

While US President Donald Trump mentioned that India has agreed to reduce its tariffs and non-tariff barriers on US goods to nearly zero, he did not clarify which sectors would be included in this reduction.

Minister Goyal indicated that negotiation teams are still actively discussing the terms.

On the other hand, a faction of farmer organizations strongly opposes the India-US trade deal, labeling it as "total capitulation in the face of Trump’s threats" and a surrender of India’s national interests.

Meanwhile, a statement from the Left-leaning All India Kisan Sabha expressed: "Even as we await official communication regarding specifics, including the timeline for new tariffs, the reduction of trade barriers, and the US products India has committed to purchasing…" expressing their skepticism.

This statement emerged simultaneously with Goyal's assertion that the deal protects sensitive sectors while providing vast prospects for exporters, farmers, fishermen, and the youth.

Although the stock market and currency are not the only indicators of a trade deal's success, they do reflect general sentiment.

By Tuesday afternoon, Indian markets rallied, and the rupee strengthened following President Trump’s announcement of the India-US trade deal.

The Sensex surged over 2,000 points, the Nifty increased by 639 points, and analysts noted that the rupee's rise indicated renewed foreign investor confidence. Trump's social media post about reducing tariffs from 50% to 18% alleviated a long-standing concern among investors.

Two major industry organizations also welcomed the news.

Confederation of Indian Industry (CII) President Rajiv Memani stated: "The anticipated decrease of US-India tariffs to 18% signifies a substantial advancement in the strategic economic partnership between India and the US."

According to Federation of Indian Chambers of Commerce and Industry (FICCI) President Anant Goenka, reducing reciprocal tariffs on Indian goods "will significantly enhance the competitiveness of Indian exports in the world's largest import market."