India-US Trade Deal Nears Completion: Joint Statement Expected Soon

• Union Commerce Minister Piyush Goyal announced the India-US trade deal is in its final stages, promising a significant boost for India's future.
• The deal reduces US tariffs on India from 50% to 18%, addressing long-standing issues faced by Indian traders, exporters, and marine/textile sectors.
• Sensitive sectors like agriculture and dairy have been protected, ensuring their interests are not compromised.
• The agreement is expected to benefit various industries including tech, marine, small and medium enterprises, IT, auto components, textiles, footwear, and gems and jewelry.
• High-quality technology and investment are anticipated to flow into India from the US, strengthening bilateral relations beyond just trade.

Why It Matters: The India-US trade deal is in its final stages, promising economic growth and protection for key Indian sectors.