Union Commerce and Industry Minister Piyush Goyal has said that India’s interim trade agreement with the United States will increase cotton demand, support farmers, and create new employment opportunities, especially in technology sectors.
Speaking at the ET NOW Global Business Summit 2026, Goyal explained that the agreement will improve market access for Indian textiles in the US. With lower tariffs and favourable rules, garments made using US cotton or yarn and processed in India may enter the American market at competitive duty rates. This, he said, is expected to increase demand for cotton and benefit Indian farmers.
The minister clarified that sensitive agricultural products such as rice, wheat, maize, millets, dairy, and poultry have been kept out of the agreement to safeguard domestic interests. He emphasised that the government has ensured farmer protection while expanding export opportunities.
Goyal added that products like basmati rice, spices, tea, fruits, and marine goods could see better access to the US market, potentially improving incomes for farmers and exporters. He dismissed opposition criticism that the deal could harm agriculture, stating that the agreement has been carefully structured to balance growth and protection.
On the issue of artificial intelligence, Goyal said the AI revolution will not reduce employment but instead create new roles. He noted that India’s young and skilled workforce positions the country well to lead in emerging sectors such as data analytics, cybersecurity, and AI validation.
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