The commerce minister says a framework agreement with the US is underway; the fine print is expected by March as tariff relief talks progress.
Piyush Goyal on Thursday said India will receive the same zero-duty access for certain textile exports as Bangladesh under its upcoming trade arrangement with the United States, addressing concerns over competitive disadvantages for Indian exporters.
Responding to criticism over Bangladesh’s recent trade understanding with Washington, the commerce minister said India would not be left behind. “India also has the same facility, and India will also get it. Right now, our framework agreement is being made. When the interim agreement is finalised, then you will get to see this in the fine print,” Goyal told reporters.
The statement comes after the US and Bangladesh signed an agreement on February 9 reducing reciprocal tariffs to 19 per cent from 20 per cent earlier announced levels, along with zero-tariff access for select textile and apparel products made using US cotton and man-made fibre.
Goyal also hit back at opposition criticism, saying claims that Bangladesh had secured better trade terms than India were misleading. He noted that negotiations between India and the US are ongoing, with the interim trade deal’s detailed provisions expected in March.
The developments follow a recent phone conversation between Prime Minister Narendra Modi and US President Donald Trump, after which both sides announced progress toward concluding negotiations on a bilateral trade framework. Earlier, the Trump administration had imposed tariffs of up to 50 per cent on Indian goods entering the US since August 2025. Those duties have now been reduced to around 18 per cent following recent discussions.
The proposed bilateral trade agreement, first formally floated in February 2025, aims to more than double India-US trade from about $191 billion currently to $500 billion by 2030, while also addressing non-tariff barriers affecting commerce between the two countries.
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