Page 6 - Latest Updates on India-US Trade Deal

Farmers' interest protected in trade deal, says Shivraj Singh Chouhan

The India-US trade deal reduces tariffs on Indian goods in the US to 18 per cent, while Washington has claimed the deal will help it export more agricultural products to New Delhi

India to grant import duty concessions on select US agricultural products

India has agreed to provide import duty concessions to certain US agricultural products such as dried distillers' grains (DDGs), red sorghum and apples for animal feed. According to a joint statement, India and the US have agreed on a framework for the first phase of the bilateral trade agreement, which is expected to be signed by mid-March. Commerce Minister Piyush Goyal told reporters that India will provide quota-based tariff concessions on US agricultural products such as DDGs, soybean oil, apples, long staple cotton and soybean oil. "We have opened our markets for the US in a calibrated manner on some products like Distiller's Dried Grains with Solubles (DDGS), wines and spirits in which we have kept a minimum import price also," Goyal said. When asked if DDG's have GM (genetically modified) soymeal, the minister assured that the environment ministry has prescribed processes on allowing the import of GM materials in India, which will be followed. According to the US Grains an

USTR's India map draws attention as Delhi, Washington announce trade pact

As New Delhi and Washington announced details of the bilateral interim agreement framework on trade, a map of India issued by the US Trade Representative's office on Friday drew attention. The map, posted by US Trade Representative on the social media site X, showed the entire region of Jammu and Kashmir, including Pakistan-occupied Kashmir, as Indian territory. Similarly, the Aksai Chin region, claimed by China, is also shown as part of the Indian territory, a significant messaging by the US. On previous occasions, maps of India have been shown with a demarcated line to portray the PoK and Aksai Chin region. But the map of India issued by the USTR shows the entire region of Jammu and Kashmir, including these two areas, as an integral part of India. New Delhi has consistently underscored that the entire Union Territory of Jammu and Kashmir has been, is and will always be an integral and inalienable part of India. India also asserts that Aksai Chin is an integral part of its terri

India-US trade pact opens $118 bn textile market for Indian exports

The landmark trade agreement between India and the US is set to open up America's USD 118 billion global imports market of textiles, apparels and made ups, a "major opportunity" for India's textile industry, the government said on Saturday. Notably, the US is the top market for India's textile exports. The 18 per cent reciprocal tariffs on Indian textiles products including apparel and made-ups will not only remove the disadvantage that Indian exporters had, but would place them in a better position than most competitors like Bangladesh (20 pc), China (30 pc), Pakistan (19 pc) and Vietnam (20 pc), who have higher reciprocal tariffs, the textile ministry said. This would alter the market dynamics as large buyers would surely relook at their sourcing in the light of this agreement, it added. India and the US on Saturday announced that they have reached a framework for the first phase of the bilateral trade agreement under which both sides will reduce import duties on a number of good

Energy security top priority as India plans to diversify sourcing: MEA

After Goyal sidestepped a query on Russian oil imports, MEA said energy security for 1.4 billion people remains India's top priority

Zero-duty US access for diamonds, coloured gems a 'turning point': Industry

The Indian gem jewellery industry on Saturday welcomed the announcement of zero-duty access for diamonds and coloured gemstones to the US under the Interim Agreement framework, saying it is a turning point that will give a fresh boost to the sector. "We are elated by the Interim Agreement framework announcing zero-duty access for diamonds and coloured gemstones to the US, especially after a difficult year in which India's cut and polished diamond exports to our largest market fell by over 60 per cent, from USD 3.64 billion to USD 1.45 billion, due to tariff-driven loss of competitiveness," GJEPC Chairman Kirit Bhansali said in a statement. India and the US on Saturday announced they have reached a framework for an interim trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade. Tariffs will go down to zero on a wide range of goods, including generic pharmaceuticals, gems and diamonds, and aircraft parts, thereby further enhancing

India-US interim trade pact to help MSMEs join global value chains: FM

The India-US Interim Agreement framework will support Indian MSMEs in integrating into global value chains and lower costs for businesses and consumers, Finance Minister Nirmala Sitharaman said on Saturday. As part of the framework announced last night, both countries will reduce import duties on a number of goods to boost two-way trade. While the US will reduce tariffs on Indian goods to 18 per cent from the present 50 per cent, India will eliminate or cut down import duties on all US industrial goods and a wide range of American food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits. According to a joint statement, India has expressed its intention to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over the next five years. "India has safeguarded the sensitivities of its agriculture and anim

India-US trade pact brings lower or zero duty on US wines, spirits

American goods ranging from wines and spirits to dry fruits will enter India either duty-free or at reduced import tariffs, a move expected to make these imports cheaper for domestic consumers. India and the US on Saturday announced that they have reached a framework for the first phase of the bilateral trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade. The framework will be converted into a legal agreement, which is expected to be signed by mid-March. The duty concessions will take effect on the day of implementation. According to a joint statement, India will eliminate or reduce tariffs on all US industrial goods and a wide range of American food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, and wine and spirits. The other US goods which will enjoy duty concession by India include walnuts, almonds, pistachios, and some ...

India-US trade deal: Farmer groups fear backdoor entry of GM crops via DDGS

Most farmer organisations and Opposition parties have sounded an alarm about the possible entry of GM products; Say could harm soy farmers in MP, Maharashtra, Rajasthan

India, Russia share strong ties based on trust: Consul General Ivan Fetisov

Ivan Fetisov, Consul General of the Russian Federation in Mumbai, said on Saturday that his country is open to ties with any nation willing to cooperate with Russia, and that Moscow and New Delhi share a good relationship based on trust and mutual respect. He was speaking to PTI Videos on the sidelines of the International Business Conclave at Advantage Vidarbha 2026 in Nagpur. Asked about India's growing ties with the US, the diplomat said, "We are open to cooperating with any country that wants to cooperate with Russia. If India wants to cooperate with the US, Kazakhstan or Brazil, it depends only on India. "So, I think we have a really good relationship based on trust and mutual respect. That is important nowadays," he said. To a question about India-Russia relations in the current scenario, he referred to the "enthusiasm" when Prime Minister Narendra Modi met Russian President Vladimir Putin in September last year. "I repeat that we have a strong relationship with India. We ha

India-US trade deal: Zero duty for large bikes, to benefit Harley-Davidson

India will grant zero-duty access to US motorcycle makers for bikes with engine capacities of 800-1,600 cc and above under the interim trade agreement, a move that would benefit iconic American brand Harley-Davidson, an official said on Saturday. Last year, the government had reduced import duty on motorcycles with engine capacities of up to 1,600 cc, which are imported as completely built-up (CBU) units, from 50 per cent to 40 per cent. For motorcycles with engine capacities exceeding 1,600 cc, the duty was curtailed to 30 per cent from 50 per cent. India and the US on Saturday issued a joint statement on an interim trade pact, which is expected to be signed by mid-March. The official said that the duty elimination will come into effect on the day of the implementation of the agreement. India is a small market for high-end premium bikes and the US' share in the segment is miniscule. In October 2020, Hero MotoCorp and Harley-Davidson announced a partnership for the Indian market.

India-US trade pact boosts Boeing's parts sourcing from India: Goyal

US-based Boeing is a large buyer of aircraft parts from India and is looking at the country as its largest foreign original equipment manufacturer (OEM) base for components going forward, Commerce and Industry Minister Piyush Goyal said on Saturday. Under an interim trade agreement with India, the US has agreed to remove tariffs on certain aircraft and aircraft parts of India. "Already Boeing and Airbus are large buyers of aircraft parts from India...I am told both these companies are looking at India as the largest foreign OEM for parts going forward and I have had conversations with the top board and CEO of both companies. There is a lot of excitement about the India-US partnership," he told reporters here. Boeing has over 265 commercial and military aircraft operating in India, which is a key market for the plane maker. The company has more than 325 suppliers and the annual sourcing from the country is worth over USD 1.25 billion. The amount includes components and services. Ai

India-US trade deal: DDGS duty cuts raise concerns despite tariff rate caps

India has agreed to relax or remove duties on several US agri products under an interim trade deal framework, raising risks for domestic producers of DDGS, but providing possible relief on soybean oil

India-US trade framework includes electronics, IP discussions: Vaishnaw

The Indian government is closely engaged with the US for electronics and IP-related matters, Union Minister Ashwini Vaishnaw said on Saturday, as the two nations announced that they have finalised a framework for an interim trade agreement. The US-India joint statement on the interim agreement for trade deal has called for addressing non-tariff barriers that affect bilateral trade. It specifically mentions barriers related to the trade in US medical devices, US Information and Communication Technology (ICT) goods. Asked about views on the statement and its expected impact, Vaishnaw said the commerce ministry is the nodal body to share details but as far as electronics is concerned India is closely engaged in the discussion. "We are very closely engaged from our side as far as electronics and IP is concerned. We believe in co-development, co-creation, we believe in IP, respecting IP. We believe that India has a lot to offer to the entire world in terms of new products, new ideas, ne

India-US interim trade pact framework boosts investor confidence: India Inc

The framework for an interim trade agreement between India and the US sends a strong signal of confidence to global investors and offers a timely boost to competitiveness, technology access, and supply chain resilience, India Inc said on Saturday. India and the US on Saturday announced they have reached a framework for an interim trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade. FICCI President Anant Goenka said it marks a pivotal step forward in advancing economic synergy between two of the world's largest democracies. "This strategic partnership is designed to lower tariffs, ease regulatory bottlenecks, and unlock new opportunities across sectors. As India strengthens its position as a global manufacturing hub, this agreement offers a timely boost to competitiveness, technology access, and supply chain resilience". While the US will reduce tariffs on Indian goods to 18 per cent from the present 50 per cent, India will ..

India handled US trade talks better than most nations: Former US official

Former US Assistant Commerce Secretary says India followed a calm, logical process in trade talks with Washington instead of reacting to political pressure

Huglomacy, photo-ops meant little: Congress on India-US interim trade pact

The Congress on Saturday took a swipe at Prime Minister Narendra Modi over the interim trade agreement with the US, claiming the deal is stacked heavily against India and all the "huglomacy and photo-ops" have not amounted to much. Slamming the government, the opposition party cited a White House release which said the US will now monitor whether India is importing oil from Russia, and said "Naam Narender, Kaam Surrender". Congress general secretary in charge of communications, Jairam Ramesh, said the US-India joint statement just issued is silent on details. "But from what has been revealed, it is clear that: India will no longer import oil from Russia. Separately, the US has announced that a 25 per cent penalty could be reimposed if India buys oil directly or indirectly from Russia," Ramesh said on X. It has also been revealed that India will slash import duties to help American farmers at the cost of Indian farmers, Ramesh claimed. "India's annual imports from the USA will trip

Zero duty on gems, pharma exports under India-US trade deal: Piyush Goyal

Addressing a press conference, the Union Minister said that several Indian goods will attract zero duties on export, including pharmaceutical products and smartphones

US trade deal will not hurt interests of farmers, MSMEs, artisans: Goyal

Addressing a press conference, the commerce minister hailed the India-US trade framework, adding that it protects farmers, boosts exports, and strengthens bilateral trade ties

US-India trade deal offers auto exporters relief, but tariff fog remains

India's auto component exporters may see relief under the interim US-India trade framework, but industry bodies say clarity on Section 232 tariffs and quota rules is needed to gauge gains