India-US Nears Major Tariff Reduction Deal – Report
India and the United States are close to finalising a long-pending trade agreement that would lower U.S. tariffs on Indian imports to 15 %-16 %, according to a report by Mint. Currently, some U.S. duties on Indian goods reportedly stand near 50 %.
Key Trade Areas
The proposed deal is expected to focus on energy and agriculture. India may agree to gradually scale down its imports of Russian crude oil, while the U.S. could provide wider market access for Indian exports and cut tariff levels significantly.
Negotiation Status
Talks are in an advanced stage, though neither New Delhi nor Washington has confirmed details publicly. As per Mint, the expected tariff cut would lower duties from about half to around one-sixth for key Indian exports.
Strategic Implications
If concluded, the pact would mark a major breakthrough in bilateral trade ties. It would open up greater access to the U.S. market for Indian products, while giving Washington more room to align India with its broader strategic and energy goals.
