'New vistas opened up to promote Make in India': EAM S Jaishankar hails India-US interim trade agreement

In an X post, Jairshankar said the agreement will support the Centre's 'Make in India' vision.

"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," the EAM said.

The two nations announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, a step toward advancing the broader US-India Bilateral Trade Agreement (BTA) negotiations launched by Prime Minister Narendra Modi and President Donald Trump in February 2025, according to a joint statement released by the White House and the Commerce Ministry.

As per the agreement, the US will apply a reciprocal tariff rate of 18 per cent on Indian originating goods, including textiles and apparel, leather and footwear, plastic and rubber, organic chemicals, home decor, artisanal products, and certain machinery.

The United States will also remove tariffs on certain aircraft and aircraft parts from India, which were imposed to address national security threats, the joint statement said.

According to the statement, India will eliminate or reduce tariffs on all US industrial goods and a wide range of S food and agricultural products, including dried distillers' grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.

As per the deal, India also intends to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years.

Earlier today, Union Commerce Minister Piyush Goyal lauded India's framework for the Interim Agreement, stating that it would unlock access to a USD 30 trillion market for Indian exporters, particularly benefiting MSMEs, farmers, and fishermen. In an X post, Goyal stated that an agreement would significantly boost exports and create lakhs of new jobs, especially for women and youth. (ANI)