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Commerce Minister Piyush Goyal has said that he does not see farmers having any complaints about the proposed US trade deal, speaking at the Global Economic Cooperation (GEC) Summit 2026, as he underlined the government’s focus on protecting agricultural interests.
Goyal said India is on track to become the world’s third-largest economy by 2027-28, adding that trust and confidence between counterparts make trade agreements easier to conclude.
He said India has signed nine agreements over the past four years, with FTAs crafted with a long-term vision of the next 20-30 years. Goyal stressed that the interests of farmers, fishermen and MSMEs are fully protected in all FTAs, noting that India has not opened its dairy sector to any country. He also said India aims to become a $40 trillion economy by 2047.
GEC Summit 2026
Senior policymakers, global CEOs, investors and leaders of multilateral institutions from India and abroad are in Mumbai from 17-19 February 2026 for the inaugural Global Economic Cooperation 2026 (GEC), a high-level, invitation-only forum designed to examine how economic diplomacy, cooperation and capital alignment must evolve in an increasingly multipolar world.
The summit is convened by the Future Economic Cooperation Council (FECC), a non-profit platform, in partnership with the Ministry of External Affairs, Government of India, and the Government of Maharashtra.
Positioned at a moment of global economic transition, GEC 2026 is designed to address the deeper structural shifts reshaping global commerce, investment flows and economic governance. With structured engagement across infrastructure financing, advanced manufacturing, technology systems, energy transitions and resilient supply chains, the event will underscore cooperation beyond trade, according to ANI.
High-level plenaries and closed-door dialogues will focus on economic corridors, investment partnerships, digital connectivity, ESG frameworks and the governance of emerging technologies, which are areas now central to economic sovereignty and global stability.
India-US trade deal
The US and India on Saturday announced that they have reached a framework for an interim trade agreement, under which America will reduce tariffs on India to 18 per cent, according to a joint statement issued by the White House. Both have announced that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).
The framework reaffirms the countries’ commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, launched by US President Donald J. Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains.
English (US) ·