New Delhi, Feb. 7 -- India is set to gain zero-duty access for goods worth around $44 billion, nearly half of its merchandise exports to the US, under the first phase of the India-US bilateral trade agreement, commerce and industry minister Piyush Goyal said on Saturday.

The minister described the pact as a calibrated opening that expands export opportunities while fully protecting sensitive domestic sectors, especially agriculture and dairy.

Addressing a press conference to clarify the commitments outlined in the joint statement issued by the White House in the early hours of Saturday, Goyal said India has ensured carefully crafted exemption lines for products such as dairy items, soyameal, lentils, cereals and millets including jowar,...