Trade deals with US, UK, and EU to accelerate Viksit Bharat mission: Union Minister Mr. Piyush Goyal
- IBEF
- February 13, 2026
According to Union Minister for Commerce and Industry Mr. Piyush Goyal, the recent conclave between India and United States, United Kingdom, and European Union is a historic milestone and will enhance Viksit Bharat program. In a high-level meeting with 35 Export Promotion Councils (EPCs) and industry association leaders, the Minister acknowledged that the trade agreements with these countries were intentionally crafted to benefit farmers, MSMEs (micro, small and medium enterprises), professionals, and artisans by giving them access to developed consumer markets across the globe. The Minister reiterated that while these agreements create new opportunities for Indian products and services, the Government of India is committed to protecting its sensitive agriculture and dairy sectors.
A significant milestone of this session was the US Executive Order (February 6, 2026) that removed the additional 25% tariff on major Indian imports, a meaningful event that will restore immediate competitive advantage to labor-intensive sectors such as gems & jewellery, textiles, leather, and engineering goods. Millions of jobs in India will also be preserved through this initiative. Minister Goyal encouraged the industry to move beyond traditional approaches and adopt a more aggressive global approach focused on quality enhancement and competitiveness. To assist in this transformation of businesses in India into trusted global supply chain partners in the new world order, the Government of India is also expanding the Export Promotion Mission (EPM), which will provide sizeable financial assistance, such as Interest Subvention Support (ISS) and collateral-free credit guarantees to businesses developing into trusted global supply chain partners.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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