Brief by Shorts91 Newsdesk / 04:29am on 07 Feb 2026,Saturday India Global
India and the United States finalised an interim trade framework that cuts U.S. tariffs on Indian goods to 18% from about 50%, easing earlier penalties tied to Russian oil purchases. India will reduce or remove tariffs on a wide range of U.S. industrial, food and agricultural products. The deal includes India’s plan to purchase up to $500 billion of U.S. energy, aircraft, technology and other products over five years and expands cooperation in technology trade. Both sides agreed to address non-tariff barriers and negotiate a broader bilateral trade pact, potentially lowering more tariffs. (PC: PTI)
