India-US Interim Trade Agreement Explained: How Tariff Cuts Boost Make in India and Exports?

Описание: India and the United States have agreed on a framework for an Interim Trade Agreement, aiming to strengthen bilateral trade and boost India’s manufacturing and exports. Under the pact, the US will reduce tariffs on Indian goods from 50% to 18%, while India will cut or eliminate import duties on a wide range of American industrial, food, and agricultural products. Key Indian exports, including generic pharmaceuticals, gems and diamonds, and aircraft parts, will see tariffs drop to zero, enhancing India’s global competitiveness and supporting the Make in India initiative.

Industry experts predict the agreement will attract global supply chains to India, expand manufacturing and services, and create new opportunities for farmers, entrepreneurs, women, and youth. PM Modi highlighted that the pact opens new avenues for Indian businesses and strengthens the country’s economic growth.

During 2021-25, the US was India’s largest trading partner in goods, accounting for 18% of exports, 6.22% of imports, and over 10% of total bilateral trade. In 2024-25, bilateral trade reached USD 186 billion. The Interim Trade Agreement is expected to further accelerate exports by 25-30%, positioning India as a highly competitive player in global markets.
#indiustradedeal #ustradetariffs #piyushgoyal #pmmodi #trump

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