India to Tap $206 Billion US Agri Market with Zero Duty, Lower Tariffs

• India gains zero-duty access to a $46 billion US agricultural import market for spices, processed foods, fruits, tea, coffee, and essential oils.
• Other goods, including marine products, will enter a $160 billion market at a reduced 18 percent tariff.
• In 2024, India had a $1.3 billion trade surplus with the US in agricultural products.
• Zero-duty concessions take effect around March with the interim trade agreement; 18% reduced tariff awaits a US executive order this week.
• Major beneficiaries include spices (18% of US imports), marine sector (shrimp), basmati rice, and oilseeds.