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CHD/0006/2024-2026 ESTABLISHED IN 1881  HARYANA sunday | 8 february 2026 /thetribunechd www.tribuneindia.com India, US announce outline for interim trade deal, sharply cutting tariffs on several goods to boost ties ZIA’S SON REJECTS UNITY GOVT OFFER WORLD Joint statement says $44 bn worth of Indian goods to face Delhi to buy $500 bn worth of American products over zero duty in US; tariff on others slashed from 50 to 18% five years; deal to open $30-tn USmarket for exporters IND-USTRY BOOST AS DEAL BLUEPRINT OUT Ujwal Jalali Tribune News Service New Delhi, February 7 India and the US on Saturday unveiled a far-reaching framework for an interim trade agreement that marks a decisive reset in economic ties, sharply lowering tariffs, opening the world’s largest market to Indian exporters and laying the groundwork for a full-fledged Bilateral Trade Agreement (BTA). Prime Minister Narendra Modi welcomed the agreement, calling it “great news for India and the US”, and thanked President Donald Trump for his “personal commitment to robust ties” between the two countries. He said the framework reflected the growing “depth, trust and dynamism” of the India-US partnership. “This framework strengthens Make in India by opening new opportunities for our hardworking farmers, entrepreneurs, MSMEs, start-up innovators and fishermen. It will generate large-scale employment for women and youngsters, deepen investment and technology partnerships, strengthen resilient supply chains and contribute to global growth,” the Prime Minister said. According to a joint statement issued by both sides, India has expressed its intention to purchase $500 billion of US energy products, air- $41 BILLION Nod to select imports; core agri, dairy sectors shielded TRADE SURPLUS ■ $186 bn bilateral trade in 2024-25 ($86.5 bn Indian exports and $45.3 bn imports) ■ $41 bn India’s trade surplus in 2024-25, $35.32 bn in 2023-24, $27.7 bn in 2022-23 ■ US accounted for 18% of India’s total exports in 2021-25, while imports stood at 6.22% craft and aircraft parts, precious metals, technology products and coking coal over the next five years. The joint statement outlines reciprocal and “balanced” market access commitments that are expected to deliver immediate gains for the Indian industry, MSMEs, farmers and fishermen, while deepening supply chain integration and cooperation in technology and investment. Commerce and Industry Minister Piyush Goyal said the trade agreement would give Indian exporters unprecedented access to the $30 trillion US economy. “About $44 billion worth of Indian exports will enter the US market at zero reciprocal tariffs in the first phase,” he said, adding that once US President Trump signed the Executive Order, reciprocal tariffs on most Indian goods would be reduced to 18 per cent from the current levels of up to 50 per cent. continued on page 6 INDIA-US Ujwal Jalali Tribune News Service TRADE DEAL New Delhi, February 7 India has firmly ring-fenced its sensitive agricultural and dairy sectors even as it agreed to calibrated market access for select US farm products under the framework for an interim trade agreement jointly announced by New Delhi and Washington on Saturday. According to a joint statement, India will eliminate or reduce tariffs on a limited range PRODUCTS WITH ZERO DUTY INDIAN EXPORTS Gems and diamonds | Pharmaceutical products | Aircraft parts | Smartphones | Spices, tea, coffee | Coconut, coconut oil | Areca nut | Brazil nut, cashew nut, chestnut | Vegetable wax | Avocado | Banana, mango, pineapple | Mushrooms | Some bakery products IMPORTS FROM US ■ Dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts like pistachio, walnut, almond and lentils ■ Vegetable planting material, vegetable sap, vegetable roots, taro, banana, beans, cereals, barley and seeds ■ Fresh and processed fruit | Soybean oil | Alcohol, wine, spirits | Heart & cancer drugs | Cosmetics & chemicals of US agricultural exports, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits. However, senior officials in New Delhi told The Tribune that key staples and sensitive farm and dairy products have been kept completely outside the tariff concessions. These include maize, wheat, rice, soya, poultry, milk, cheese, certain continued on page 6 Union Minister Piyush Goyal during a press conference on the India-US trade deal in New Delhi. MUKESH AGGARWAL ‘MAKE IN INDIA’ BOOST The interim trade pact will strengthen ‘Make in India’ by opening up new opportunities for farmers and entrepreneurs, and create employment for women and youth. ❝ India eliminates or lowers tariffs on all US industrial goods and a wide array of agricultural products US tree nuts and red sorghum Tribune News Service US dried distillers’ grains Narendra Modi, PRIME MINISTER WILL LOSE ADVANTAGE The US will now monitor India’s oil purchase. India’s imports from the US will triple, wiping out our longstanding goods trade surplus. Jairam Ramesh, CONG LEADER ❝ DETAILED COVERAGE BACK PAGE INDIA GETS APPLE, COTTON ON CONCESSION FARM BODIES RAISE CONCERN, WANT AGRI OUT c m y b US lifts 25% tariff linked to Russian oil, but with rider US wine and spirits US fresh and processed fruit WASHINGTON’S MAP SNUB TO PAK, CHINA While releasing the details, the US trade representative’s office released a map of India showing the entire J&K, including Pakistan-occupied Kashmir and even Aksai Chin, as part of the country. New Delhi, February 7 US President Donald Trump has lifted the additional 25 per cent tariff imposed on Indian imports, citing New Delhi’s commitment to halt direct or indirect purchases of crude oil from Russia, albeit with a rider. The executive order makes it clear that the penal tariff can be reimposed if India violates commitments on Russian oil purchases. The order provides for continued monitoring of India’s Levy to be back if India buys crude from Moscow energy sourcing, tasking the US Secretary of Commerce, in coordination with other senior Cabinet officials, with tracking whether India resumes direct or indirect imports of Russian oil. In the event of any violation, the administration retains the option to recommend reimposition of the 25 per cent tariff on Indian goods. continued on page 6