<h1>India-US trade deal cuts tariffs to 18%, boosting export competitiveness and triggering a broad equity rally and sectoral gains.</h1> The India-US trade agreement implements a material tariff reduction-reported as a decline from 50% to 18%-removing a tariff overhang, improving export competitiveness and visibility for capital inflows, the exchange rate, and manufacturing investment, and producing immediate sectoral gains in export exposed and manufacturing linked industries.