India-US Trade Agreement: A New Dawn for Exporters
Union Commerce Minister Piyush Goyal heralded the India-US trade agreement as a landmark opening for Indian exporters. The deal slashes US tariffs from 50% to 18%, safeguarding farmers and boosting sectors like gems and pharmaceuticals. The agreement promises substantial economic prospects for India, emphasizing protection and growth.
- Country:
- India
In a significant development, Union Commerce Minister Piyush Goyal has lauded the newly unveiled India-US trade agreement as a monumental step. This agreement ushers in reduced tariffs, promising new opportunities for Indian exporters.
Speaking at a press conference on Saturday, Goyal highlighted the influence of discussions initiated by Prime Minister Modi and the US President in February 2025. The minister announced that US tariffs on Indian exports would drop to 18%, compared to the previous 50%, signaling a robust opening of the $30 trillion US economy to Indian goods.
The agreement broadens access for key Indian sectors. Gems and pharmaceuticals will face zero duty in the US, marking a competitive edge over neighboring countries. Goyal assured that the benefits extend to Indian farmers, MSMEs, and craftsmen, preserving their interests while fostering economic growth between the two nations.
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