India–US Trade Pact: Lower Import Duty on Wines, Spirits, Dry Fruits, and Agricultural Products

India and the US have finalized the first phase of a bilateral trade agreement aimed at boosting economic cooperation and consumer access. Under this pact, premium American wines, spirits, tree nuts, and dry fruits will enter India at reduced or zero tariffs. The agreement also covers industrial and agricultural goods, marking a significant step toward deeper trade integration.

Key Highlights

• Duty Reductions: US wines, spirits, dry fruits, and tree nuts to benefit from lower or zero tariffs.
• Industrial Goods: India to cut tariffs on all US industrial exports, enhancing manufacturing and trade opportunities.
• Agricultural Concessions: Products such as soybean oil, red sorghum (animal feed), and dried distillers’ grains included.
• Timeline: Legal signing expected by mid-March, with tariff cuts effective immediately thereafter.
• Strategic Impact: Greater consumer choice, competitive pricing in India’s premium food and beverage market, and stronger India–US trade ties.

Sources: The Economic Times, Mint, PTI, The Indian Express