Jewellery, pharma, smartphones to be tariff-free: Piyush Goyal details US deal

Union Minister Piyush Goyal details the landmark bilateral trade agreement between India and the United States. Highlighting the vision of Prime Minister Narendra Modi and President Donald Trump, Goyal announced that reciprocal tariffs on Indian exports to the US will drop from 50% to 18%, making India more competitive than China, Vietnam, and Bangladesh. Goyal said, 'The reciprocal tariff in America will decrease by 50% and become zero' for various agricultural and manufactured goods. The agreement aims to achieve a $500 billion annual bilateral trade target. Key sectors benefiting include gems and jewellery, pharmaceuticals, and smartphones, which will now face zero duty. The Minister also emphasised the total protection of Indian dairy and farming interests while opening massive opportunities for artisans and exporters across the country, marking a significant milestone in the India-US strategic partnership.