India-US Trade Deal: Premature Verdicts Cloud True Impact, Await Full Details

• The recently announced India-US trade deal has been met with both euphoria and condemnation, both deemed premature as full details, including legal text, tariff schedules, and technology agreements, are yet to be released.
• Key benefits include the partial breaking of the trade impasse, significant reduction in US tariffs on Indian goods (from 50% to 18%), boosting competitiveness for sectors like textiles, pharmaceuticals, and seafood, and improving investor confidence.
• The deal also strengthens the strategic partnership between India and the US, positioning India as a manufacturing hub and diversifying supply chains away from China.
• Concerns include potential pressure to reduce Russian oil purchases, which could increase India's energy costs and complicate its relationship with Moscow, and the impact on India-Iran ties.
• Another major concern is the adverse effect on Indian agriculture if US farm products, backed by high subsidies, enter the market without protective tariffs, potentially displacing millions of smallholder farmers.