India-US Trade Deal Live: The United States and India have announced that they have reached a framework for an interim trade agreement, a move both sides say highlights their shared efforts for fair and mutually beneficial trade. In a joint statement, the two countries said they were “pleased to announce” the framework, adding that it reaffirms their commitment to a broader US-India Bilateral Trade Agreement, or BTA. The BTA talks were launched by US President Donald Trump and Indian Prime Minister Narendra Modi on February 13, 2025.
India-US Interim Trade Deal 2026 LIVE: India to cut Tariffs on US industrial and farm goods
A key part of the framework focuses on market access. India has agreed to eliminate or reduce tariffs on all US industrial goods. It will also lower duties on a wide range of American food and agricultural products. These include dried distillers’ grains used for animal feed, red sorghum, tree nuts, fresh and processed fruits, soybean oil, wine, spirits and other products. The aim is to make it easier for US exporters to sell these goods in the Indian market.
India has also agreed to address long-standing issues that have affected US exports, including barriers in medical devices, food products and technology goods.
The United States, for its part, will apply a reciprocal tariff rate of 18 per cent on Indian goods under an executive order issued in April 2025. These tariffs will apply to products such as textiles and apparel, leather and footwear, plastic and rubber items, organic chemicals, home décor, handicrafts and certain machinery.
Farmers’ interests protected as India opens $30 trillion US market for exports
Commerce and Industry Minister Piyush Goyal said the interim trade framework with the United States, reached under the “decisive leadership” of Prime Minister Narendra Modi, would open up a massive $30 trillion market for Indian exporters, with particular gains for MSMEs, farmers and fishermen. He said the deal would create “lakhs of new job opportunities for our women and youth” as exports rise across sectors.
At the same time, Goyal stressed that India has fully protected farmers’ interests, saying sensitive agricultural and dairy items, including staples like wheat, rice and maize, as well as milk, poultry and meat, have been “completely protected” under the agreement. According to him, the framework keeps India and the US focused on deepening economic ties while ensuring “sustainable growth for our people and businesses.”
India-US trade deal Live updates: Nirmala Sitharaman on trade deal
The India-US Interim Agreement framework will support Indian MSMEs in integrating into global value chains and lower costs for businesses and consumers, Finance Minister Nirmala Sitharaman said on Saturday.
As part of the framework announced last night, both countries will reduce import duties on a number of goods to boost two-way trade.
"India has safeguarded the sensitivities of its agriculture and animal husbandry sectors. The framework protects key farm and dairy products, spices, and staples, strengthening farmer incomes," the office of Sitharaman said in a post on X.
The framework will strengthen India's lead in the digital services sector, it said, adding the joint technology cooperation will position India as a hub for AI, data and digital services.
India-US trade deal Live updates: Big tech boost for India as Goyal highlights strategic ICT wins
Piyush Goyal said India’s policy on Information and Communication Technology (ICT) products is aimed at protecting national interests while ensuring fair competition, rather than restricting global players.
Addressing the issue, Goyal said the government’s approach is designed to guard domestic industry against countries that engage in predatory pricing and unfair trade practices. He stressed that India remains open to international participation but will act to prevent market distortions and protect local manufacturers.
The minister also described the recent technology understanding with the United States as a significant gain for India. He said the agreement ensures access to critical ICT components, including advanced chips from NVIDIA, artificial intelligence equipment and data centre infrastructure.
Goyal noted that such technologies are essential for national security, the growth of India’s IT sector and the country’s long-term global competitiveness. “For our national security, we will certainly need many ICT products… if our IT companies are to align with global needs,” he said.
He added that access to advanced computing and AI infrastructure will help India keep pace with global technological developments and strengthen its digital and innovation ecosystem.
India-US trade deal Live updates: Quota-based duty concession to US on apples
India has granted a quota-based duty concession to the US on apples under the interim trade pact, while fully protecting domestic apple growers, Commerce and Industry Minister Piyush Goyal said on Saturday.
India has imposed a minimum import price (MIP) of Rs 80 per kg and an import duty of 25 per cent on apples from the US under the proposed India-US trade pact, which is expected to be signed by mid-March.
This effectively means apples priced below Rs 100 per kg cannot be imported into the country from the US.
At present, imported apples attract a 50 per cent import duty with an MIP of Rs 50 per kg, effectively barring imports of apples priced below Rs 75 per kg.
India-US trade deal Live updates: 'It's not a deal, it's a compromise with our self-respect,' says Cong
On India-US Interim Trade Agreement, Congress leader Pawan Khera says, "Where is the India which used to look Nixon, George Bush and Obama in the eye and forge practical relations? Why does it feel today that the interests of the common people of India are undermined before the interests of Narendra Modi and his two friends, Ambani and Adani? This is not an Agreement with the US, but a compromise with our self-respect...Those who are attempting to show this as a reason to celebrate - Narendra Modi, his EAM and Piyush Goyal themselves know what has actually happened. This is not a deal, but a surrender. LoP Rahul Gandhi tries to speak in the Parliament but he is stopped. This fear exists because Narendra Modi knows that the LoP and the Opposition know that on what conditions he surrendered and what fear he has that he mortgaged everything to the US."
-via ANI
India-US trade deal Live updates: List of agri products included and protected from the deal
Piyush Goyal confirmed that in the agriculture sector, several Indian products will now be exported to the US with zero duty. He emphasised that the trade deal does not harm farmers’ interests and aims to protect their livelihoods while expanding export opportunities.
List of products included and protected from the deal:
India-US trade deal Live updates: Goyal slams critics 'misleading' public
Piyush Goyal defended the India–US interim trade agreement, saying some critics were acting against farmers’ interests and misleading the public. He said such voices “do not worry about the farmers’ interests” and were spreading incorrect narratives.
Goyal added that those opposing the deal would be surprised to see that it contains no provisions that harm Indian farmers and that all sensitive agricultural interests have been safeguarded.
India-US trade deal Live updates: Key takeaways from the press conference
Union Commerce and Industry Minister Piyush Goyal on Friday addressed the press on the recently-announced trade deal between India and the US. The minister talked about various aspects of the deal and what all sectors have been included or excluded from it.
During the media conference, Goyal said a wide range of Indian products will enjoy zero-duty access to the United States under the proposed trade framework, while sensitive agricultural sectors have been kept out to protect domestic farmers.
Addressing a press conference, Goyal said key export sectors such as gems and diamonds, pharmaceutical products and smartphones will continue to face 0% duty in the US market. Several agricultural items that earlier attracted duties of up to 50% will now see zero tariffs. These include spices, tea, coffee, coconuts and coconut oil, cashew nuts, areca nut, barley and a range of fruits and vegetables such as mangoes, bananas, guavas and papaya.
Zero-duty benefits will also extend to aircraft and machinery parts, select auto components, generic medicines, platinum, watches, essential oils, home décor items, certain chemicals and products made of paper, plastic and wood.
Goyal stressed that the agreement safeguards Indian agriculture. “We have not included any item where any Indian farmer will be hurt. All sensitive items have been kept out,” he said.
The government has excluded genetically modified products and provided no concessions on meat, poultry, dairy, soybean, maize, rice, wheat, sugar, millets, pulses, oilseeds, ethanol and tobacco, ensuring protection for key farm sectors.
India-US trade deal Live updates: Selective market access for US products
Union Commerce and Industry Minister Piyush Goyal said India has agreed to open its markets to the United States for select products such as Distiller’s Dried Grains with Solubles (DDGS) and wines and spirits.
"We have opened our markets for the US on some products like Distiller’s Dried Grains with Solubles (DDGS), wines & spirits in which we have kept a minimum import price also," Goyal said
India-US trade deal Live updates: 'This will greatly benefit us', says Goyal
"Eighteen percent is lower than the tariffs imposed by all our neighboring countries and other countries with whom we compete, and this will greatly benefit us and our exporters in the coming days," says Piyush Goyal in press conference.
"All those products on which we are 'aatma nirbhar' have been kept out of the agreement," he added.
#watch | Delhi: On India-US Interim Trade Agreement, Union Minister for Commerce and Industry, Piyush Goyal says, "...All those products on which we are 'aatma nirbhar' have been kept out of the agreement..." pic.twitter.com/4gBIXhXCEr
— ANI (@ANI) February 7, 2026
'Pact with US will not hurt interests of farmers': Goyal
Commerce Minister Piyush Goyal says the pact with US will not hurt interests of farmers, MSMEs, handicraft, handlooms in any way.
India-US trade deal Live updates: Tariff cut to boost farmers, exporters, says Goyal
Union Commerce and Industry Minister Piyush Goyal said the India–US agreement has safeguarded the interests of farmers and the dairy sector and has been widely welcomed across the country.
"Considering how the interests of our farmers have been protected, the interests of farmers and the dairy sector have been protected. I believe that the joint statement between the United States and India, which was finalised late last night and presented to the world, has been welcomed in every corner of the country,” Goyal said.
#watch | Delhi: On India-US Interim Trade Agreement, Union Minister for Commerce and Industry, Piyush Goyal says, "Considering how the interests of our farmers have been protected, the interests of farmers and the dairy sector have been protected. I believe that the joint… pic.twitter.com/qygIHOInMz
— ANI (@ANI) February 7, 2026
India-US trade deal Live updates: 'There is great enthusiasm in every sector': Piyush Goyal
Goyal said there is a wave of happiness and enthusiasm across sectors, adding that new opportunities are expected to open up as the United States, the world’s largest economy of nearly $30 trillion, moves to open its markets to Indian exporters with most-favoured-nation status.
“The objective was to achieve bilateral trade of $500 billion between India and the United States annually. Today will be written in golden letters for achieving that goal. There is a wave of happiness throughout the country. There is great enthusiasm in every sector of the country regarding the future. It seems that in the coming days, new opportunities will open up, and the United States of America, the world's largest economy, an economy of approximately thirty trillion dollars, will now open up to our exporters with most-favoured-nation status," Goyal said in press conference.
India-US trade deal Live updates: 'Today is a very important day', says Piyush Goyal
Union Minister for Commerce and Industry, Piyush Goyal says, "Today is a very important day in India's journey towards a developed India by 2047. With the future in mind, and considering the two countries' relations, diplomatic ties, and the friendship between their leaders, discussions on a bilateral trade agreement began in February 2025,”
India-US trade deal Live updates: A boost for Make in India
Uttar Pradesh Chief Minister Yogi Adityanath called the interim agreement a “landmark step” that will boost Make in India. He thanked PM Narendra Modi for his “decisive and dynamic leadership” in securing an “India-first” agreement.
PM Modi hailed the deal for opening new opportunities for farmers and entrepreneurs while creating jobs for women and youth. Commerce Minister Piyush Goyal said the framework will give Indian exporters access to a $30 trillion market, particularly benefiting MSMEs, farmers, and fishermen.
India-US trade deal Live updates: Stabilising the Rupee and FPI flows
Mihir Vora, CIO at Trust Mutual Fund, highlighted the broader market impact. Speaking to CNBC, he said the agreement could stabilise the rupee and revive foreign portfolio investment (FPI) flows into India. Reduced trade frictions with the US, he added, give India a stronger footing compared to other export-driven economies like Vietnam, Thailand, Bangladesh, and even China.
India-US trade deal Live updates: Pharma sector gains clarity
The deal is largely positive for the Indian pharmaceutical sector, according to Systemactix. India is expected to receive preferred tariff treatment for several pharmaceutical products. Generic drugs will remain exempt from tariffs, and organic chemicals, including APIs, could attract an 18% tariff — still competitive.
Systemactix also noted that rules of origin will be jointly defined, ensuring benefits are specific to India-US trade and not extended to other countries.
India-US trade deal Live updates: 'India gains a competitive edge over rivals'
India's former G20 Sherpa and ex-NITI Aayog CEO Amitabh Kant on Saturday said that India will gain a competitive edge over countries like Vietnam and Bangladesh, while protecting its agriculture and dairy sectors, after the announcement of the framework of the India-US trade agreement.
In a post on X, Kant highlighted that the Interim agreement has reduced the US tariffs on Indian goods to 18 per cent from the previous hefty tariff of 50 per cent.
India-US trade deal Live updates: Zero Russian crude remains unlikely
Former HPCL Chairman MK Surana told CNBC-TV18 that while Indian imports of Russian crude are expected to decline, achieving zero imports in the immediate term is unlikely due to logistical realities and refinery dependencies.
India-US trade deal Live updates: Piyush Goyal to address a press conference around 1:30 pm
Piyush Goyal to address a press conference around 1:30 pm
India-US trade deal Live updates: Nitin Jain, CEO and Director, Kotak Mahindra on the India-USA Joint Statement
"The much awaited India US tariff deal removes the key overhang on the Indian economy, markets and currency while taking into account sufficient measures to safeguard local interests. India effective tariff at 18% are almost half the tariffs on Chinese goods and lower than other asian peers. Coming quickly on the back of the India - EU FTA and with 20 plus other trade agreements with large economies/ trading blocks, this puts India in the pole position in the race to China +1 opportunity in global supply chains."
India-US trade deal Live updates: FICCI President Mr Anant Goenka on the India-USA Joint Statement
The India–US Trade Deal marks a pivotal step forward in advancing economic synergy between two of the world’s largest democracies. This strategic partnership is designed to lower tariffs, ease regulatory bottlenecks, and unlock new opportunities across sectors. As India strengthens its position as a global manufacturing hub, this agreement offers a timely boost to competitiveness, technology access, and supply chain resilience. It’s a moment to accelerate value creation—for India, with India, and from India—at a truly global scale.
India-US trade deal Live updates: ‘$30 Trillion market? The numbers don’t add up
On US-India Interim Trade Agreement, former Indian diplomat KP Fabian says, "There is considerable confusion in all this. Our minister speaks of $30 trillion markets. The GDP of the United States is $30 trillion. This doesn't mean the United States imports goods worth $30 trillion, correct? Secondly, in 2023 and 2024, the United States imported dollars worth $3.61 trillion. So that is the market. And it may have shrunk a little with Trump's tariffs, but basically you're looking at 3.5 trillion, plus or minus. So to speak of a $30 trillion market is to cause unnecessary conditions. Regarding safeguarding our agricultural sector, the picture is unclear because that is what our official statement says. But then there is another statement from the Secretary of Agriculture in the United States. She said American farmers will export to India. So, all I would say is that the picture is not clear. And don't forget, this is only the framework of an interim agreement..."
India-US trade deal Live updates: Union Minister Hardeep Singh Puri issues statement
“The interim trade agreement between India and USA is anchored in the shared commitment of our two great nations towards a glorious future under the leadership of PM Narendra Modi and POTUS Donald Trump. It will further strengthen the Make In India initiative and open up vast opportunities for our farmers, entrepreneurs, MSMEs, StartUp innovators, fishermen and more by generating large-scale direct and indirect employment opportunities, particularly for our youth. As we continue on our journey towards ViksitBharat, this framework reflects the commitment towards promoting innovation and will further deepen investment and technology partnerships between India & USA,” says Union Minister Hardeep Singh Puri.
India-US trade deal Live updates: ' Namaste Trump jeete, Howdy Modi haare,' Cong leader takes aim
On US-India Interim Trade Agreement, Congress MP Jairam Ramesh says, "... Namaste Trump jeete, Howdy Modi haare. The joint statement, which has been issued, is not very detailed, but whatever information we could collect makes five things very clear. First, we will not purchase Russian oil, and if we do, a fine will be imposed on us in the form of 25% tariffs. Second, we will either reduce or remove import duty on agricultural imports from the US... Our imports from the US will increase by three times every year. This means our trade with the US, which is in surplus, will become a deficit. Fourth, there is no mention on IT and service sector. Fifth, export duty on Indian products is increasing. This trade deal is in America's interests... Everything will become very clear when details of this deal emerge..."
#watch | Delhi: On US-India Interim Trade Agreement, Congress MP Jairam Ramesh says, "... Namaste Trump jeete, Howdy Modi haare. The joint statement, which has been issued, is not very detailed, but whatever information we could collect makes five things very clear. First, we… pic.twitter.com/GtG6jKMUX5
— ANI (@ANI) February 7, 2026
India-US trade deal Live updates: Rajnath Singh hails agreement
Defence Minister Rajnath Singh called the India-US Interim Trade Agreement a “landmark framework” under PM Modi’s leadership. He said it will expand export opportunities, boost labour-intensive sectors, attract high-quality investments, and generate large-scale employment.
Singh added that farmers’ and agriculture interests have been safeguarded and thanked PM Modi for his efforts in opening “historic avenues for growth, employment, and long-term economic empowerment.”
"Under the visionary leadership of PM Narendra Modi, India-US have agreed on a framework for an Interim Trade Agreement. This landmark framework represents a strategic milestone in India's economic journey. It will significantly expand export opportunities, strengthen labour-intensive sectors, attract high-quality investments and create large-scale employment," Rajnath Singh said.
"The interests of our farmers and agriculture have been safeguarded. I express my gratitude to PM Modi for his tireless efforts in unlocking the historic avenues for growth, employment and long-term economic empowerment," he added.
India-US trade deal Live updates: 'All credit to President Trump and Prime Minister Modi'
"A new day! All credit to President Trump and Prime Minister Modi for their leadership and vision in achieving this," says US Ambassador to India Sergio Gor
A new day! All credit to President Trump and Prime Minister Modi for their leadership and vision in achieving this. https://t.co/sehm0eLHSm
— Ambassador Sergio Gor (@USAmbIndia) February 7, 2026
India-US trade deal Live updates: 'Dost Dost Na Raha' - Cong mocks India-US trade deal
Congress leader Jairam Ramesh criticised the US-India Joint Statement, saying India faces major economic concessions—ending Russian oil imports, boosting US exports at the cost of Indian farmers, risking trade imbalances, and unclear prospects for IT and services exports—while political optics dominate.
The United States-India Joint Statement just issued is silent on details. But from what has been revealed it is clear that:
— Jairam Ramesh (@Jairam_Ramesh) February 7, 2026
1. India will no longer import oil from Russia. Separately the US has announced that 25% penalty could be reimposed if India buys oil directly or…
India-US trade deal Live updates: What India has agreed to open up
Despite the hard stance on staples, India has offered limited concessions in less sensitive areas:
India-US trade deal Live updates: Deal will 'promote Make in India,' EAM Jaishankar
"The framework for an Interim Agreement will realise a mutually beneficial India - US trade partnership. The framework will ensure greater market access and opportunities for our exporters. New vistas have opened up that will further promote Make in India.," wrote EAM Dr. S. Jaishankar
The framework for an Interim Agreement will realise a mutually beneficial India - US trade partnership.
— Dr. S. Jaishankar (@DrSJaishankar) February 7, 2026
The framework will ensure greater market access and opportunities for our exporters. New vistas have opened up that will further promote Make in India.
🇮🇳 🇺🇸 https://t.co/FyprbxQ7A0
India-US trade deal Live updates: PM Modi announces framework for interim trade deal with US
PM Modi unveils India-US interim trade pact framework, calls it a win for growth and jobs.
Great news for India and USA!
— Narendra Modi (@narendramodi) February 7, 2026
We have agreed on a framework for an Interim Trade Agreement between our two great nations. I thank President Trump for his personal commitment to robust ties between our countries.
This framework reflects the growing depth, trust and dynamism of… https://t.co/zs1ZLzamhd