India has gained a significant advantage in its trade relationship with the United States, with several high-value Indian exports set to enjoy zero-duty access under the new trade arrangement, Union Commerce and Industry Minister Piyush Goyal announced.
Calling it a major win for Indian exporters, Goyal said the agreement removes tariffs on a wide range of products that form the backbone of India’s export basket to the US.
“There are several items on which zero duty will now be levied when our exporters send goods to the United States of America. For example, gems and diamonds will attract no duty. Pharmaceutical products, which India exports in large volumes, will also be subject to zero duty. Smartphones, which are exported in large numbers, will continue to enjoy zero duty,” the minister said, as per ANI.
He said: “Smartphones, which are exported from India to the US in large numbers, will continue to have zero duty. In this way, there are numerous such items on which zero duty will be levied in the future. In the agricultural sector as well, there are many items that will be exported from India to the US on which a zero reciprocal tariff will be applied, meaning the additional duty will be zero.”
Big Relief For Key Export Sectors
The zero-tariff provision is expected to significantly benefit India’s gems and jewellery industry, pharmaceutical manufacturers, and electronics exporters, particularly smartphone makers. These sectors account for billions of dollars in annual exports to the US and are seen as critical drivers of employment and foreign exchange earnings.
