India-US Trade Deal: Garments, Leather, Footwear to Gain from Lower Tariffs

• A new India-US trade deal reduces tariffs to 18%, boosting Indian exporters' competitiveness in the US market.
• Garment, leather, and footwear manufacturers, previously facing uncertainty, will benefit significantly, with duties now lower than those for Bangladesh or Sri Lanka.
• Indian carpets, shrimp, and gems and jewellery exporters are also set to regain market share and competitiveness.
• The deal provides an advantage over Chinese products, which face higher levies, and complements India's trade agreements with the UK and EU.
• Indian exports to the US grew 11.3% to $59 billion (April-November), with leaders like Amit Shah, Piyush Goyal, and Ashwini Vaishnaw welcoming the agreement.

Why It Matters: The India-US trade deal with reduced tariffs will significantly boost Indian exports, especially in key sectors.