India, US sign $500 billion interim trade deal
India and the US just wrapped up a $500 billion interim trade deal.
Announced by Trade Minister Piyush Goyal, this agreement lets certain US products—like distillers dried grains with solubles (DDGS), some wines and spirits, and cosmetics—enter India with varied tariff treatments, including zero duties for several products such as DDGS.
Goyal called it a milestone, saying the goal is to boost economic growth while making sure everyday Indians benefit.
Deal protects Indian farmers, boosts exports
The deal keeps protections for Indian farmers by excluding sensitive sectors such as meat, poultry and dairy, and by barring genetically modified (GM) products from entering India—so staples like rice and maize are safe.
On the flip side, Indian goods such as tea, spices, medicines, and smartphones will now face zero tariffs in the US.
This move is expected to help Indian businesses compete globally without putting local agriculture at risk.