India-US commerce deal: India will get expanded market entry for agri exports – Company Technique & Outlook

Throughout 2024, India’s agricultural exports to the US stood at $3.4 billion, excluding marine merchandise, whereas imports have been $2.1 billion.

As part of the interim commerce deal between India and the US, India has secured zero-duty entry to a US import market of roughly $46 billion. The tariff-free product traces already account for about $1.4 billion of US imports from India and embrace spices, processed meals, fruits, tea, espresso, and important oils.

India may also obtain preferential entry at 18 per cent reciprocal tariff for $160 billion import market, indicating substantial near-term export potential. Particularly, the marine sector positive factors entry at an 18 per cent tariff price in a US import market phase valued at round $25 billion, providing important alternatives for growth, they mentioned.