India-US Unveil Landmark Trade Framework: Tariffs Slashed, $500 Billion Purchase Plan

• India and the US announced an interim trade framework to lower tariffs and deepen economic cooperation.
• US to apply 18% reciprocal tariff on most Indian goods; India to eliminate/reduce tariffs on US industrial and farm products.
• Sensitive sectors like dairy, fruits, vegetables, and spices are protected in the Indian market.
• Section 232 tariffs on Indian aircraft parts to be removed; India to get preferential tariff-rate quota for auto parts.
• India commits to purchasing US goods worth $500 billion over five years, focusing on energy, aircraft, and technology.