India-US Interim Trade Pact Protects Sensitive Sectors

India and the United States have reached an interim trade agreement, with India's Commerce Secretary Rajesh Agrawal confirming that sensitive agricultural and dairy sectors have been fully protected from duty concessions. The agreement, expected to be finalized by March, will see reciprocal tariffs on Indian labor-intensive exports reduced from 25% to 18%, giving India an advantage over competitors like China and Vietnam. This move is anticipated to boost Indian exports in sectors such as textiles, apparel, marine products, and gems and jewelry, which were previously affected by high tariffs. The agreement also reflects India's consistent strategy of safeguarding its farmers' livelihoods in trade negotiations. India has also recently finalized FTAs with the European Union, the United Kingdom, and Australia.