India-US trade deal: Did you know these items will face ZERO tariffs in the US?

Commerce minister Piyush Goyal on Saturday said that the India-US trade agreement will boost exports, especially with the agreed 18 per cent tariff rate. Goyal's comments follow a joint statement from India and the US about the trade deal, which is expected to be signed in the coming days.

"The 50 per cent reciprocal tariff has been reduced to 18 per cent which is less compared to our neighbouring countries and will provide a lot of help to our exporters. The deal brings new hopes and opportunities in India's growth story,” Goyal was quoted as saying by The Times of India.

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Piyush Goyal shared a list of items that will have no duties when exported from India to the US. These include:

Coffee

Coconut and Coconut oil

Areca nut

Brazil nut

Cashew nut

Chestnut

Vegetable wax

Avaocado

Gems and diamonds

Pharmaceutical products

Aircraft parts

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Smartphones will continue to face zero duty

Spices

Tea

Banana

Mango

Pineapple

Mushrooms

Select bakery products

Negotiated outcomes

"Tariffs will go down to zero on a wide range of goods, including generic pharmaceuticals, gems and diamonds and aircraft parts, thereby further enhancing India's export competitiveness and Make in India. India will also get exemptions under section 232 on aircraft parts, tariff rate quota on auto parts and negotiated outcomes on generic pharmaceuticals, leading to tangible export gains in these sectors," Goyal said.

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"These also include spices, tea, coffee, coconut oil, cashew nuts and several fruits and vegetables such as avocado, banana, mango, pineapple and mushrooms, along with select bakery products," the Commerce Minister added.

Piyush Goyal stated that India's important agricultural and dairy products sectors will remain protected. He added that no genetically modified products from the US will be permitted in India as part of the trade deal.

"Agricultural products from Indian farmers will be exported to the United States without any duty. At the same time, no tariff reductions have been given for agricultural products from US farmers coming into the Indian market," he said.