Trade deal with U.S. ‘best possible’ amid shifting global order, Foreign Secretary tells House panel

The Parliamentary Standing Committee on External Affairs, chaired by Congress MP Shashi Tharoor, held a marathon three‑and‑a‑half‑hour meeting on Tuesday (February 10, 2026) to examine the recent trade agreements signed by India with the United States and the European Union, amid mounting political scrutiny over their implications for farmers, energy security and regional trade.

Briefing the panel, Foreign Secretary Vikram Misri said given the “shifted global paradigm”, the trade agreement with the United States represented the best possible outcome India could have secured. He repeatedly assured members that farmers’ interests would be protected and would not be compromised under the deal.

Mr. Misri faced sustained questioning on India’s continued imports of Russian oil, particularly in the backdrop of recent statements from Washington. He told parliamentarians that the government had chosen not to react to the U.S. executive order issued by President Donald Trump and was instead sticking strictly to the details contained in the trade agreement signed between the two countries.

The remarks came days after Mr. Trump issued an executive order withdrawing punitive 25% tariffs on Indian goods, while claiming that India had already begun scaling back purchases of Russian oil and warning that the tariffs could be reimposed if such imports increase.

According to sources present at the meeting, Mr. Misri did not offer a definitive response on whether India had made any formal commitment to the U.S. on ending Russian oil purchases, reiterating instead that India’s decisions would continue to be guided by national interest.

Responding to questions on the U.S. expectation that India will buy $500 billion worth of American goods over the next five years, Mr. Mistry said this was not “binding”, and it was only an expression of intent. 

On the proposed India‑EU trade agreement, the Foreign Secretary did not give a clear timeline yet on when the deal would come into effect, a point that drew concern from several members.

Parliamentarians also raised questions about U.S. trade concessions to Bangladesh, warning that they could have adverse consequences for Indian cotton farmers. Members pointed out that Bangladesh has historically been one of the largest importers of Indian cotton, and sought clarity on the likely impact now that the U.S. is set to supply cotton to Bangladesh under its revised trade arrangements.