India-US Trade Deal: Agriculture, Dairy Protected; Tariffs Slashed to 18%
India
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News18•03-02-2026, 22:03
India-US Trade Deal: Agriculture, Dairy Protected; Tariffs Slashed to 18%
- •India and the US have finalized a landmark trade agreement, reducing US reciprocal tariffs on Indian goods from 50% to 18%.
- •Commerce Minister Piyush Goyal confirmed strict protection for India's sensitive agriculture and dairy sectors, excluding items like dairy, rice, wheat, and poultry from trade concessions.
- •The tariff reduction is expected to significantly boost Indian exports and create jobs, especially in labor-intensive sectors like textiles, apparel, and gems and jewelry.
- •The deal aims to attract advanced technologies and investment in semiconductors, AI, and data centers, positioning India as a global supply chain hub.
- •India committed to purchasing $500 billion worth of American goods over five years, including energy, technology, and aircraft parts, shifting from Russian oil.
Why It Matters: India secured its farming sector while gaining massive tariff reductions and investment opportunities in a new US trade deal.
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