India-US Interim Trade Pact: Tariffs Reduced, Market Access Expanded

• India and the US finalize an interim trade agreement framework to reduce tariff barriers.
• The pact aims to deepen economic cooperation, expand market access, and strengthen supply chains.
• India will eliminate or reduce tariffs on all US industrial goods and various agricultural products.
• The US will apply an 18% reciprocal tariff on Indian goods, including textiles, leather, and chemicals.
• Upon formal signing, the US will remove tariffs entirely on Indian pharmaceuticals, gems, and aircraft parts.