India-US trade agreement to launch in April
after close1 source ↓written by the desknot a recommendation
- to the US
- 50% of India's exports
- 35% will face lower tariffs
- 18%
- on Indian shipments
- 25% penalty
An interim trade agreement between India and the US is set to be operational in April, as announced by Union Commerce Minister Piyush Goyal. The agreement will allow nearly 50% of India's exports to the US to enter duty-free, while 35% will face lower tariffs of around 18%. In exchange, India will reduce imports of Russian crude oil, and the US will eliminate a 25% penalty on Indian shipments.
Not investment advice. For informational purposes only.