The Interim Settlement between India and the U.S. is not going to embody any merchandise that will damage Indian farmers, Commerce Minister Piyush Goyal stated on Saturday (February 7, 2026), including that there are a number of areas the place Indian farmers and MSMEs have obtained duty-free entry into the U.S. market.
India and the U.S. early Saturday (February 7, 2026) morning issued a joint assertion by which they introduced that the 2 nations had reached a framework for an Interim Settlement, and would proceed working collectively in direction of a extra complete Bilateral Commerce Settlement.
Whereas U.S. President Donald Trump has already signed an govt order eradicating the 25% tariffs the U.S. had imposed on imports from India for its commerce in Russian oil, Mr. Goyal stated that one other govt order is anticipated subsequent week that would cut back the remaining 25% reciprocal tariff to 18%.
India-U.S. commerce deal LIVE updates
“We have now not included any merchandise the place any Indian farmer shall be damage,” Mr. Goyal stated at a press convention later within the day. “All delicate gadgets have been saved out of the deal. No genetically modified gadgets will enter India, and no tariff reduction has been given [to the U.S.] on meat, poultry, dairy, soybean, maize, rice, wheat, sugar, millets, fruits similar to bananas, strawberries, cherries, citrus fruit, greenpea, kabuli chana, moong, oilseeds, ethanol, and tobacco.”
How India will profit
He additional listed out a variety of different sectors that will see duties on exports to the U.S. being decreased from 50% to 0%.
These embody gems and diamonds, pharmaceutical merchandise, plane components, equipment components, generic medicine, pharma merchandise, some auto components, gems and diamonds, platinum, clocks and watches, important oils, residence decor gadgets similar to chandeliers, lamp components, some inorganic chemical substances, some paper, plastic, and wooden gadgets, amongst others.
“A number of agricultural exports will see zero obligation from 50%, similar to spices, tea, espresso, copra, coconuts and coconut oil, vegetable oil, areca nut, Brazil nuts, cashew nuts, chestnuts, a number of vegatables and fruits, similar to avocados, bananas, guavas, mangoes, kiwis, papaya, mushrooms, materials for vegetable plating, vegetable sap, vegetable roots, cereals like barley, some processed meals,” Mr. Goyal stated.
The place India has decreased tariffs
The Commerce Minister acknowledged that India has decreased or eliminated tariffs on gadgets that India wants and doesn’t produce, or those who it produces however not in sufficient portions.
“Some gadgets will see tariffs being eliminated instantly, whereas others will see tariffs eliminated in a phased method, whereas some others may also see quota-based tariffs,” Mr. Goyal stated.
These things embody apples, Distillers Dried Grains with Solubles (DDGS), wines and spirits (with a minimal import value), pista, walnuts, almonds, some industrial manufacturing inputs, many medicines for most cancers remedy, coronary heart remedy, neurological remedy, some cosmetics, natural and inorganic chemical substances, a number of merchandise associated to computer systems, and several other medical equipments.
“It’s massive win for India that the U.S. has agreed to supply us with varied ICT merchandise that we’d like,” Mr. Goyal.
Revealed – February 07, 2026 03:06 pm IST
