US EditionIndia Gains Edge as US Tariff Deal Lowers Rates Below China, Pakistan, Indonesia
The deal ends punitive tariffs linked to Russian oil and cuts US tariffs on Indian goods from 50% to 18%, protecting agriculture and dairy sectors, Commerce Minister said.
- On Monday , U.S. President Donald Trump announced a United States-India trade deal lowering the reciprocal tariff on Indian goods to 18% after a call with Prime Minister Narendra Modi.
- Before the agreement, U.S. duties had climbed to 50% due to a 25% reciprocal tariff plus a 25% penalty linked to Russian crude purchase, prompting foreign investors to exit and weakening FDI inflows.
- On Tuesday, markets reacted as Sensex and Nifty surged, textile and leather stocks jumped up to 20%, and the rupee opened around 90.50 per dollar.
- Currency strategists now see USD/INR gradually moving towards the 88.5-89 range, and analysts project a 0.1-0.2% of GDP improvement in the current account for FY27, expected to encourage a return of FPIs and FDI.
- Alongside the Critical Minerals Ministerial on Wednesday, External Affairs Minister S Jaishankar is visiting the US from February 2-4, amid broader strategic cooperation efforts.
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97 Articles
PM Modi Has Always Championed Agriculture and Dairy Sectors Safeguarding Their Interests: Piyush Goyal on US Trade Deal
Get latest articles and stories on Business at LatestLY. Commerce and Industry Minister Piyush Goyal has said Prime Minister Narendra Modi has always championed the agriculture and dairy sectors, safeguarding their interests and noted the sensitive factors of India's economy, particularly agriculture and dairy, have been protected in the India-US trade deal. Business News | PM Modi Has Always Championed Agriculture and Dairy Sectors Safeguarding…
India got good US trade deal, says Commerce Min Piyush Goyal; hits out at Congress
While refraining from sharing specific details, Goyal said the negotiations were in their final phase and that an India–US joint statement outlining.India-US trade agreement, US-India trade deal, Piyush Goyal, commerce minister, Narendra Modi, Donald Trump, trade negotiations, tariff reduction, Indian exports, agriculture sector, dairy industry, bilateral trade pact, India economic growth, reciprocal tariffs, favourable trade deal
US President Donald Trump announced a reduction in tariffs on imports from India from 50 to 18 percent after Indian Prime Minister Narendra Modi reportedly assured him that India would buy American and Venezuelan oil instead of Russian.
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