India-US Trade Deal: Safeguarding Agriculture and Expanding Opportunities

India has safeguarded its agricultural and dairy interests in a forthcoming bilateral trade agreement with the United States, Commerce Minister Piyush Goyal announced. The announcement follows President Trump's recent commitment to slash tariffs from 50% to 18%, paving the way for mutual economic benefits.

The agreed framework aims to bolster Indian industries such as textiles, plastics, and gems by reducing US import duties. This move particularly benefits labor-intensive sectors, driving growth and opening markets for Indian exports. A joint statement detailing the agreement is anticipated shortly.

The deal comes as a relief to Indian exporters grappling with high tariffs impacting trade with the US. Reductions are expected to significantly boost sectors including textiles, machinery, and chemicals, thus providing competitive advantages against nations like China and Vietnam.