A groundbreaking India-US trade agreement is set to catapult Indian exporters into the heart of America’s $30 trillion economy with prioritized market entry. The government’s Monday statement highlights zero-duty access for numerous goods, plus expanded digital-tech alliances.
Domestic protections for farmers, SMEs, and industries ensure balanced gains. From a strong 2024 base of $86.35 billion in exports, labor-heavy industries—textiles, leather, jewelry, agriculture, pharmaceuticals, technology—will see transformative opportunities.
Tariffs tumble: 50% to 18% on $30.94 billion worth, zero on $10.03 billion. Footwear taps a $42 billion market; textiles/apparel $113 billion; machinery an immense $477 billion—all at lower costs.
India masterfully excluded dairy, meat, poultry, and grains from liberalization. Competitive advantages sharpen against tariff-burdened foes: China’s 37%, Vietnam/Bangladesh’s 20%, ASEAN nations’ 19%.
This pact promises not just revenue growth but supply chain diversification, tech transfers, and employment booms. It’s a testament to visionary leadership, forging a prosperous trade corridor that could redefine India’s economic trajectory for decades.