India–US Trade Deal: Commerce Minister Piyush Goyal said on Saturday that the upcoming India-US trade agreement will strongly support India’s exports. He stressed that the new 18% tariff rate will make Indian goods more competitive in the global market. His statement came soon after both countries released a joint note about the deal, which they are likely to sign in the coming days.

He said, “The 50% reciprocal tariff has been reduced to 18% which is less compared to our neighboring countries, and will provide a lot of help to our exporters. The deal brings new hopes and opportunities in India's growth story.”

India–US Trade Deal: Lower Tariffs Bring New Opportunities

Goyal explained that the sharp drop in tariff rates will help Indian exporters gain better access to the US market. As a result, businesses can expect more growth and stronger demand for Indian products. He added that this move will improve India’s position compared to nearby countries.

India–US Trade Deal: Products That Will Face Zero Duty in the US

The minister also shared a detailed list of products that will enter the US market with zero tariffs. This step will directly support several key industries and farmers.

These products include:
Gems and diamonds
Generic pharmaceutical products
Aircraft parts
Smartphones (will continue to face zero duty)
Spices
Tea and coffee
Coconut and coconut oil
Areca nut, Brazil nut, cashew nut, chestnut
Vegetable wax
Avocado, banana, mango, pineapple
Mushrooms
Some bakery products

He said, "Tariffs will go down to zero on a wide range of goods, including generic pharmaceuticals, gems & diamonds, and aircraft parts, thereby further enhancing India's export competitiveness and Make in India. India will also get exemptions under section 232 on aircraft parts, tariff rate quota on auto parts and negotiated outcomes on generic pharmaceuticals, leading to tangible export gains in these sectors."

He further added, "These also include spices, tea, coffee, coconut oil, cashew nuts, and several fruits and vegetables such as avocado, banana, mango, pineapple, and mushrooms, along with select bakery products."

India–US Trade Deal: Protection for Farmers and Dairy Sector

At the same time, Goyal assured that the government will continue to protect India’s sensitive sectors. He made it clear that the deal will not harm farmers or the dairy industry.

He said, “Agricultural products from Indian farmers will be exported to the United States at zero duty. At the same time, no tariff concessions have been granted for agricultural products from US farmers entering the Indian market.”

India–US Trade Deal: No Entry for GM Products

He also clarified another key point. India will not allow genetically modified products from the US under this agreement. This step will help protect domestic agriculture and food safety standards.

Overall, the minister said the deal will open new markets, increase exports, and support India’s long-term economic growth.