India-US Interim Trade Deal: Tariffs Slashed, USD 30 Trillion Market Opens

• US cuts tariffs on Indian goods to 18% from 50%, opening a USD 30 trillion market for Indian exporters, especially MSMEs, farmers, and fishermen.
• India will eliminate or reduce tariffs on all US industrial goods and a wide range of US food and agricultural products.
• Tariffs will go down to zero on generic pharmaceuticals, gems and diamonds, and aircraft parts; India gets Section 232 exemptions on aircraft parts.
• India protects sensitive agri and dairy products; both countries commit to preferential market access and addressing non-tariff barriers.
• India intends to purchase USD 500 billion of US energy products, aircraft, technology, and coking coal over five years, boosting technology trade and cooperation.