India-US Trade Deal: Tariffs Slash from 50% to 18%, Boost for Indian Exports

• India and the US announce an interim trade framework, reducing reciprocal tariffs from 50% to 18%.
• Commerce Minister Piyush Goyal highlights the deal as a key milestone towards a $500 billion annual trade goal.
• Many Indian exports, including gems, pharma, textiles, and leather goods, will receive zero-duty access to the US market.
• Farmers' interests are fully protected, with no tariff relaxations on sensitive agricultural categories like meat, dairy, and rice.
• India will calibrate tariff reductions on certain US goods with limited domestic supply, such as extra-long staple cotton and soybean oil.