{"id":997,"date":"2026-02-05T12:39:05","date_gmt":"2026-02-05T12:39:05","guid":{"rendered":"https:\/\/www.worldwatchalert.com\/?p=997"},"modified":"2026-02-05T12:39:06","modified_gmt":"2026-02-05T12:39:06","slug":"india-us-to-sign-formal-trade-deal-in-march-piyush-goyal","status":"publish","type":"post","link":"https:\/\/www.worldwatchalert.com\/?p=997","title":{"rendered":"India, US to Sign Formal Trade Deal in March: Piyush Goyal"},"content":{"rendered":"\n

New Delhi: India and the United States are expected to sign a formal trade agreement in March, following which New Delhi will lower tariffs on American goods, Indian Commerce and Industry Minister Piyush Goyal said on Thursday, providing the first official timeline for the deal\u2019s adoption.<\/strong><\/p>\n\n\n\n

Speaking to reporters in New Delhi, Goyal said the two countries would issue a joint statement within the next four to five days, after which the United States would reduce duties on Indian exports to 18% from the current 50%.<\/p>\n\n\n\n

In return, India has committed to purchasing around $500 billion worth of US goods over the next five years, including $70\u201380 billion worth of Boeing aircraft, the minister said.<\/p>\n\n\n\n

The trade understanding was announced earlier this week, under which US President Donald Trump agreed to slash tariffs on Indian exports in exchange for New Delhi halting purchases of Russian oil, reducing import duties, and significantly increasing procurement of American goods.<\/p>\n\n\n\n

\u201cA formal agreement on this deal will take 30 to 45 days and will be signed in March,\u201d Goyal said.<\/p>\n\n\n\n

He added that India would substantially increase its imports of energy, aircraft, semiconductors, and advanced technology from the United States. According to Goyal, aircraft orders already placed or in the pipeline including engines and spare parts are expected to be worth nearly $100 billion.<\/p>\n\n\n\n

Last month, Tata Group-owned Air India announced it had close to 200 aircraft on order with US plane-maker Boeing. Meanwhile, low-cost carrier Akasa Air has placed orders for 226 Boeing 737 MAX jets, underscoring the scale of India\u2019s aviation expansion.<\/p>\n\n\n\n

Indian equity markets rallied following Monday\u2019s announcement of the India-US trade deal, as investors welcomed the clarity it provided on the future direction of economic ties between the two strategic partners.<\/p>\n\n\n\n

However, the agreement has also drawn scrutiny from the opposition. India\u2019s main opposition party has urged the government to disclose full details of the deal, raising concerns about the extent to which the agriculture sector may be opened to foreign competition.<\/p>\n\n\n\n

Officials from both countries said on Tuesday that India would grant the United States limited market access for select agricultural products, while retaining key protections for domestic farmers.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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