India's Tariffs Lowest Among Emerging Economies? Piyush Goyal's Claim Examined

• Commerce Minister Piyush Goyal claims India has the lowest tariffs among emerging economies, aiming for global competitiveness.
• A crucial three-day meeting between Indian and American officials will finalize the legal draft of an interim trade agreement.
• The agreement seeks to strengthen bilateral trade, reduce tariff tensions, and boost access for Indian textiles, pharmaceuticals, and manufacturing to the US market.
• US tariff on India is currently 18%, reduced from 25%, with an additional 25% Russian oil-related duty removed.
• Experts believe reduced tariffs will lower costs for Indian exporters, benefiting sectors like textiles, pharmaceuticals, engineering goods, and IT services.