Union Minister Piyush Goyal has strongly defended the recently established interim trade agreement between India and the United States, dismissing concerns about national sovereignty as "absolute nonsense". The agreement, finalized early Saturday morning, has been touted as a significant step towards a broader and more comprehensive bilateral trade pact.

Goyal emphasized the deal's potential to unlock opportunities for India's youth, farmers, and Micro, Small & Medium Enterprises (MSMEs). He stated that the agreement is beneficial for India's development goals. The framework involves a mutual reduction of tariffs on specific goods traded between the two nations. India will lower tariffs on select US products, while the US will impose tariffs on certain Indian goods.

The Commerce Minister clarified that the agreement doesn't include any items that could negatively impact Indian farmers. He noted that sensitive agricultural products have been deliberately excluded from the deal. Goyal pointed out that Indian farmers and MSMEs have gained duty-free access to the US market in several sectors.

Goyal has also stated that Indian exporters are expected to gain an advantage in the United States market following Washington's decision to reduce tariffs on Indian goods to 18 per cent under an interim trade framework. He argued that the revised tariff structure would place Indian exporters in a comparatively stronger position.

The minister positioned the interim agreement as a crucial geopolitical move that solidifies long-term strategic goals that go beyond trade. He characterized the negotiations as a "masterclass in mutual respect," with the goal of achieving a balanced, win-win outcome that respects the sensitivities of both countries. Goyal sees India as a complementary strategic partner to the U.S. in this new era.

Piyush Goyal addressed claims of secrecy surrounding the trade deal, attributing the disruptions in Parliament as the reason he was unable to present the details to the parliament first.