Industry Minister Piyush Goyal made a major announcement regarding the India-US trade deal at a press conference. He listed the products under which the US is imposing zero percent tariffs on Indian products, ranging from pharmaceutical products to fighter jet parts.
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0% Tariff: Following the release of the framework for the interim trade agreement between India and the United States, the Commerce and Industry Minister on Saturday detailed the items on which the United States has imposed zero tariffs. He stated that India has not granted exemptions to the United States on any agricultural or dairy products.
He stated that the United States is imposing zero duty on a wide range of items for India, including gems and jewelry, agricultural products, pharmaceuticals, and other items.
Items with 0 percent tariffs
- Gems and diamonds, pharmaceuticals, smartphones, spices, tea, coffee, coconuts, coconut oil, vegetable oils, cashew nuts, spices, various fruits and vegetables.
- Bananas, mangoes, sugar, pineapples, mushrooms, vegetable roots, coca and coca-derived products, processed fruits such as guava gems.
- Aircraft parts, machinery parts, pharmaceutical goods, gems and diamonds, coins, platinum, essential oils, aluminum parts, zinc oxide, minerals and natural products, natural rubber, etc.
No exemptions on agriculture and dairy.
The Industry Minister stated that we have not granted exemptions to the US on any dairy products. Furthermore, no exemptions have been granted in the agricultural sector, which would have affected the interests of our farmers. He said that no concession has been given on meat, sugar, poultry, dairy, soybean, maize, rice, wheat, sugar, sorghum, millet, ragi, amarnath, fruits, green tea, cocoa, gram, animal seeds products, non-alcoholic items, ethanol, tobacco etc.
A $30 trillion market has opened
Piyush Goyal said that a $30 trillion market has opened at lower tariffs. Farmers and dairy have been protected. This framework was finalized late last night. Today, it has been welcomed in every corner of the country.
This joint statement provides opportunities to every Indian. Now, the US is reducing the tariff from 50 percent to 18 percent. This is a lower tariff than neighboring countries. This will bring greater benefits to India in the future. He said that our competitors, such as China, have a 35 percent tariff, Vietnam a 20 percent tariff, and Indonesia a 19 percent tariff.
Today is a very special day
During the press conference, Piyush Goyal said that today is a very important day in India’s journey to becoming a developed India by 2047. Keeping the future in mind, and given the relations between the two countries, diplomatic ties, and the friendship between their leaders, negotiations on a bilateral trade agreement began in February 2025.
The goal was to achieve annual bilateral trade between India and the United States of America of $500 billion. Today will be celebrated in golden letters for achieving that goal. There is a wave of joy throughout the country. There is great excitement about the future in every sector of the country. It seems that new opportunities will open up in the coming days, and the United States, the world’s largest economy with a nearly $30 trillion economy, will now offer most favored nation status to our exporters.
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