US Trade Deal: India and the United States are set to sign a major trade agreement by mid-March, according to Commerce Minister Piyush Goyal. The deal will see the US reduce reciprocal tariffs to 18%, while India will end its purchases of Russian oil and commit to importing $500 billion worth of energy and technology products from the United States . A joint statement detailing the agreement is expected within five days, although specific contents have not yet been disclosed.
Sources have indicated that key sectors such as dairy, fisheries, and agriculture will be protected from the impact of United States exports. The Indian side has reportedly refused to make concessions in these sensitive areas, safeguarding the interests of farmers and vulnerable communities.
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India- US Pact Aims for $500 Billion Trade by 2030, Domestic Sectors Protected
The agreement, first announced by former President Donald Trump, is considered the initial step toward a broader trade partnership aimed at boosting bilateral trade between India and the US to $500 billion by 2030. Previous deals signed by India in 2025 with Oman, the UK, New Zealand, and the EU reportedly did not include such concessions either.
Opposition parties have raised concerns over the lack of clarity on the deal’s implementation, particularly regarding alternate oil sources. Protests in Parliament disrupted Commerce Minister Goyal’s address, during which he highlighted that the agreement would strengthen domestic manufacturing, support MSMEs, and provide Indian exporters with competitive tariff rates lower than those applied to major nations exporting to the US.