India-US Trade Talks: Keep Farmers' Interests In Mind, Parliamentary Panel Advises Govt

The Parliamentary Standing Committee delivered a crucial piece of advice to the government, insisting that the interests of Indian farmers must be kept firmly in mind when negotiating the import of agricultural products from the United States under any future bilateral trade agreement.

The government, during this briefing, noted that India's overall exports have shown resilience, increasing in April-October this year compared to the previous year. And this comes even after the prevailing uncertainty and concerns heightened by Trump's tariffs.

India's total exports, combining merchandise and services, rose over 4.8% to $491.8 billion during the April to October period of the current fiscal as compared to the same period in the last fiscal.

The commerce secretary appeared before the committee, providing an update on the government’s position regarding the potential India-US trade deal. A Parliamentary Committee had asked the government on the India-US trade agreement, the impact of Trump tariffs on the pharma, textiles, gems and jewellery sectors.

The Parliamentary committee and the Members asked why tariffs were imposed when America is a friend of India. The Members also asked what the government is doing about the falling value of the rupee against the US Dollar.

Additionally, the issue of traders' complaints about not having a level playing field was also raised with the government. Members also asked why, despite increased production in India, the textiles and jute industries are being affected.

According to the government, the size of the Indian market is much larger than Indian exports. It noted that the increasing consumption is necessary for the strength of the Indian economy.

The committee's next meeting is set to take place on Dec. 16. In the next meeting that is slated, the Ministry of External Affairs' position on the India-US trade agreement will be discussed. In the briefings that are scheduled for later, the views of the Textiles and Agriculture Ministries and various industry organisations on this issue is also set to be heard.