India-US trade deal locks 18% tariff on $900 billion US global imports, zero duty on $150 billion

Key facts

• India secured 18% tariff on nearly $900 billion worth of US global imports and zero-duty access on $150 billion.
• Indian exports to the US stood at $86.35 billion in 2024.
• Tariffs on $30.94 billion of Indian goods slashed from up to 50% to 18%.
• $10.03 billion of Indian exports now enjoy zero-duty access to the US.
• Silk products secured zero-duty access to a $113-billion US market.
• Textiles and apparel tariffs reduced from peaks of 50% to 18%.
• Machinery and engineering exports tariffs cut to 18% in a $477-billion market.
• India’s current machinery exports to the US are $2.35 billion.
• $1.36 billion worth of Indian farm exports enter the US with zero additional duties.
• Products valued at $1.035 billion assured zero reciprocal tariffs including spices, tea, coffee, fruits, nuts, and processed foods.
• Dairy, meat, poultry, cereals, millets, and oilseeds remain fully protected under exemption.
• Gems and jewellery tariffs reduced from 50% to 18% for a $61-billion market.
• Diamonds and platinum secured 0% duty access covering a $29-billion segment.
• Home décor tariffs dropped to 18% for a $52-billion market; 0% duty for $13-billion segment including chandeliers and seats.
• Toy sector tariffs cut from 50% to 18% for an $18-billion market.
• Leather and footwear industry gains 18% tariff cap in a $42-billion market.
• India is the 5th largest exporter of digitally delivered services with exports of $0.28 trillion in 2024, up 10.3% year-on-year.
• Zero additional duty access secured for industrial exports valued at $38 billion covering aircraft parts, generic drugs, and elementary auto parts.