https://www.taxtmi.com/news?id=69890 A bilateral India-US trade framework reduces US tariffs on many Indian labour intensive and manufactured exports to an effective 18 percent and removes a 25 percent punitive tariff tied to Russian oil purchases, while explicitly excluding sensitive agricultural and dairy sectors (including dairy, rice, wheat, meat, poultry, cereals, GM foods, soymeal and maize). India will grant duty concessions mirroring other FTAs-some eliminations on entry into force, phased reductions, tariff cuts and quota based concessions-and the pact includes reported procurement commitments by India to import large volumes of US goods over a multi year period. en-us Tue, 03 Feb 2026 20:16:04 +0530 Tue, 03 Feb 2026 20:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=69890 A bilateral India-US trade framework reduces US tariffs on many Indian labour intensive and manufactured exports to an effective 18 percent and removes a 25 percent punitive tariff tied to Russian oil purchases, while explicitly excluding sensitive agricultural and dairy sectors (including dairy, rice, wheat, meat, poultry, cereals, GM foods, soymeal and maize). India will grant duty concessions mirroring other FTAs-some eliminations on entry into force, phased reductions, tariff cuts and quota based concessions-and the pact includes reported procurement commitments by India to import large volumes of US goods over a multi year period. News - Tue, 03 Feb 2026 20:16:04 +0530 https://www.taxtmi.com/news?id=69890