Parliament Question: India–US Trade Deal and its Economic Implications

GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE LOK SABHA UNSTARRED QUESTION NO.2990 ANSWERED ON 10/03/2026 INDIA-US TRADE DEAL AND ITS ECONOMIC IMPLICATIONS 2990. SHRI KISHORI LAL: Will the Minister of COMMERCE AND INDUSTRY (वाणिज्य एवं उद्योग मंत्री) be pleased to state: (a) the details of the items importing from United States through the proposed India- US trade deal; (b) the details of tariff being imposed by India on the goods to be imported from USA; (c) whether the dairy and agricultural items are going to import from USA, if so, the details thereof; (d) the details of items going to export from India to USA through the deal; (e) the details of tariff being imposed by USA on the goods exporting from India; (f) the estimated cost of goods are going to be imported from USA through the deal; (g) whether the farmers union raised objections on the proposed deal, if so, the details thereof including the steps taken to redress their grievances; and (h) whether India has under pressure from USA for a trade deal, if so, the details thereof? ANSWER वाणिज्य एवं उद्योग मंत्रालय में राज्यमंत्री (श्री णिणिन प्रसाद) THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI JITIN PRASADA) (a) to (h) India and the United States (U.S.) announced a framework for trade deal on 2nd February 2026. A Joint Statement for the same was released on February 07 2026. India has fully protected its sensitive agricultural sectors through a carefully designed Exclusion Category, ensuring that no tariff concessions are provided in the Agreement on key products such as Rice, Wheat, Poultry, Dairy, Soyameal, Maize, Millets, Groundnuts, Honey, Tobacco etc. On February 07 2026, 25% additional ad valorem tariffs imposed by the U.S. on certain India’s exports citing India’s imports of Russian oil were removed. Pursuant to the U.S. Supreme Court judgement dated 20th February 2026 invalidating reciprocal tariffs, the reciprocal tariffs are no longer in force. The U.S. Government has issued Executive 1Orders imposing 10% tariffs on certain products for all countries. The Government is studying all the developments thereafter for their implications and remains engaged with the U.S. Government. The Product-wise tariffs applicable on India’s imports from all countries, including the U.S., are publicly accessible on the Trade Connect Portal under the “Tariff Explorer” section at https://www.trade.gov.in/apps/free-trade-agreements ***** 2