What is the new tariff rate for Indian exports to the US under the interim trade framework?

The reciprocal tariffs on Indian exports to the US will fall sharply from 50% to 18%.

Which Indian sectors will get zero-duty access to the US market?

Key sectors including gems and jewellery, pharmaceuticals, and textiles will gain zero-duty access to the US market.

Are agricultural products included in the India-US interim trade framework?

India's agricultural sector is fully protected, with sensitive items such as dairy, soy meal, and select fruits kept outside the agreement.

Home / Business and Economy / India-US Trade Pact: Tariffs Slashed, Key Sectors Gain Access

India-US Trade Pact: Tariffs Slashed, Key Sectors Gain Access

7 Feb

•

Summary

Reciprocal tariffs on Indian exports to the US will fall sharply from 50% to 18%.
Gems, jewellery, pharmaceuticals, and textiles gain zero-duty access to the US.
Sensitive agricultural items like dairy and select fruits are excluded from the deal.

India-US Trade Pact: Tariffs Slashed, Key Sectors Gain Access

India and the United States have established a historic interim trade framework, signaling a major step toward achieving USD 500 billion in bilateral trade. Union Commerce and Industry Minister Piyush Goyal announced that reciprocal tariffs on Indian exports to the US will experience a substantial reduction, decreasing from 50% to 18%.

This agreement grants crucial sectors, including gems and jewellery, pharmaceuticals, and textiles, zero-duty access to the US market. The framework also facilitates easier import of vital high-tech goods such as semiconductors and medical devices, aligning with India's 'Viksit Bharat 2047' vision. The Minister emphasized India's continued strategic autonomy in energy and its commitment to balanced trade that fosters job creation.