<p>New Delhi: Commerce Minister Piyush Goyal on Wednesday said the proposed trade deal with the US would provide a significant comparative advantage to Indian exporters, particularly in labour-intensive sectors.</p>.<p>“This partnership will unlock new opportunities for MSMEs, entrepreneurs, skilled workers, and industry, enable access to advanced technologies, and support India’s vision to Make in India for the world, Design in India for the world, and Innovate in India for the world,” Goyal told Lok Sabha.</p>.<p>As part of the proposed deal, the US has announced to lower tariff on import of Indian goods to 18%, from the current 50%.</p>.India-US trade deal | Piyush Goyal vows 'agriculture, dairy interests are safe' as pact nears finish.<p>“I wish to underline that this rate is lower than the tariffs imposed by the US on several competing countries, thereby enhancing India’s export competitiveness in the US market,” the minister said.</p>.<p>“The agreement also provides significant comparative advantage to Indian exporters, particularly in labour-intensive sectors and manufacturing,” he added.</p>.<p>US President Donald Trump made an announcement regarding the deal following a telephoning conversation with PM Narendra Modi earlier this week. However, details of the deal are yet to be worked out. Goyal informed Parliament that India and the US would “now work together to complete the necessary technical processes and finalise the paperwork related to the trade deal”.</p>.<p>“The detailed contours of the agreement will be announced shortly after completion of these processes,” he said.</p>.<p>He reiterated that interests of sensitive sectors like agriculture and dairy would be protected. “I wish to reiterate to this august House that India’s core sensitivities in food and agriculture have been fully safeguarded,” Goyal said.</p>
<p>New Delhi: Commerce Minister Piyush Goyal on Wednesday said the proposed trade deal with the US would provide a significant comparative advantage to Indian exporters, particularly in labour-intensive sectors.</p>.<p>“This partnership will unlock new opportunities for MSMEs, entrepreneurs, skilled workers, and industry, enable access to advanced technologies, and support India’s vision to Make in India for the world, Design in India for the world, and Innovate in India for the world,” Goyal told Lok Sabha.</p>.<p>As part of the proposed deal, the US has announced to lower tariff on import of Indian goods to 18%, from the current 50%.</p>.India-US trade deal | Piyush Goyal vows 'agriculture, dairy interests are safe' as pact nears finish.<p>“I wish to underline that this rate is lower than the tariffs imposed by the US on several competing countries, thereby enhancing India’s export competitiveness in the US market,” the minister said.</p>.<p>“The agreement also provides significant comparative advantage to Indian exporters, particularly in labour-intensive sectors and manufacturing,” he added.</p>.<p>US President Donald Trump made an announcement regarding the deal following a telephoning conversation with PM Narendra Modi earlier this week. However, details of the deal are yet to be worked out. Goyal informed Parliament that India and the US would “now work together to complete the necessary technical processes and finalise the paperwork related to the trade deal”.</p>.<p>“The detailed contours of the agreement will be announced shortly after completion of these processes,” he said.</p>.<p>He reiterated that interests of sensitive sectors like agriculture and dairy would be protected. “I wish to reiterate to this august House that India’s core sensitivities in food and agriculture have been fully safeguarded,” Goyal said.</p>