India-US Trade Deal Advances: Agri Inclusion, Tariff Cuts, and Multi-Sector Buys

Negotiations progress toward a broader agreement, building on recent tariff reductions from 25% to 18% on Indian goods. India pledges "Buy American" with $500B+ in US purchases, halting Russian oil imports to favor US energy amid strategic shifts.

Key Highlights

• Agriculture Entry: Includes some farm products, a guarded sector for India.
• ​Tariff Reductions: Addresses US demands on high Indian duties for autos and more.
• ​Purchase Commitments: Petroleum, defense equipment, electronics, pharma, telecom products, aircraft.
• Comprehensive Scope: More sectors to follow; India eyes zero tariffs on US goods long-term.
• Geopolitical Angle: Ties to Ukraine war; boosts US exports, cuts deficit.

Implications
This deal enhances India-US economic partnership, targeting $500B trade by 2030. Opportunities arise in EVs, pharma, textiles despite challenges like dairy protection.

Sources: EconomicTimes.com, Yahoo Finance, JabalpurToday.com