Assessing Commerce Minister Piyush Goyal's Claim: Does India Have the Lowest Tariffs Among Emerging Economies?
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India's Tariffs Lowest Among Emerging Economies? Piyush Goyal's Claim Examined
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News18•20-02-2026, 14:40
India's Tariffs Lowest Among Emerging Economies? Piyush Goyal's Claim Examined
•Commerce Minister Piyush Goyal claims India has the lowest tariffs among emerging economies, aiming for global competitiveness.
•A crucial three-day meeting between Indian and American officials will finalize the legal draft of an interim trade agreement.
•The agreement seeks to strengthen bilateral trade, reduce tariff tensions, and boost access for Indian textiles, pharmaceuticals, and manufacturing to the US market.
•US tariff on India is currently 18%, reduced from 25%, with an additional 25% Russian oil-related duty removed.
•Experts believe reduced tariffs will lower costs for Indian exporters, benefiting sectors like textiles, pharmaceuticals, engineering goods, and IT services.
