Last Updated on February 7, 2026 9:42 pm by INDIAN AWAAZ
ADITYA RAJ DAS / NEW DELHI
Union Minister for Commerce and Industry Piyush Goyal today said 50 percent reciprocal tariff has now been reduced to 18 percent under the India-US interim trade agreement for the Indian Exports. Briefing media on India-US Joint Statement in New Delhi, Mr Goyal said that India has less tariff than its neighboring countries including, China, Pakistan, Bangladesh and Vietnam. Mr Goyal highlighted that the deal protects the Agriculture and Dairy Setor of the country and agricultural products such as Spices, Tea, Coffee, Cashew nuts, Chest Nuts, Avocado, Banana, Mango, Kiwi and Papaya will attract zero duty in the United States. The Minister added that the trade agreement has been welcomed across all sectors of the country.
The Commerce and Industry Minister said that the government aims to take India-US bilateral trade to 45 lakh crore rupees in the coming time. He said, new opportunities have opened for the investors following the trade agreement, and they should take advantage of it. He added that the agreement opens MSMEs, artisans, weavers and youth engaged in export-oriented sectors and they will be among the key beneficiaries.
Describing the agreement as fair, equitable and balanced, Mr Goyal said agricultural and dairy products adequately produced in India including maize, wheat, rice, sugar, soybean and poultry have been kept outside tariff concessions, ensuring complete protection to farmers’ interests. He added that the agreement is aimed at promoting exports, generating employment and advancing India’s journey towards Viksit Bharat 2047.