By Admin 
India US Interim Trade Deal: The long running tariff dispute between India and America has finally ended. Indian exporters have got a big boost with both the countries agreeing on an interim trade framework. Under this agreement, while most Indian goods will have 18% lower tariff instead of 50%, many essential products have been given zero tariff access in the American market. Let us know how much the zero tariff products will be sold in America after this.
generic medicines
India is already known as the pharmacy of the world. This deal strengthens this position even more. Imposition of zero tariff on Indian generic medicines is expected to reduce the prices of generic medicines in America significantly. Which was earlier sold for around $15 per strip due to import duty, now its price is expected to be $9 to $10. This will not only make essential medicines more affordable for American patients but will also increase export volume and profits for Indian pharmaceutical companies.
gems and diamonds
India’s diamond polishing hubs in Gujarat and Maharashtra are going to benefit a lot. Polished diamonds and precious stones exported from India will now be able to reach the US market without any significant duty. A diamond ring which was earlier sold for around $1000 in America can now cost around ₹650 to $700. With this, Indian diamonds will become much more competitive as compared to diamonds from Belgium or UAE.
aircraft parts
Aircraft parts made in India, which earlier attracted tariffs due to security concerns, will now be sold duty free in the US. This change is very important for India’s growing aerospace manufacturing ecosystem. With the removal of tariffs, Indian suppliers can provide parts at lower prices.
Silk Products
Certain categories of silk products will now get zero tariff access in America. This is a $113 billion market. For example, an Indian silk scarf that previously cost around $50 in the US can now be had for $30 to $35, depending on shipping and local taxes.
Handicrafts and artisan products
Traditional Indian handicrafts have also been included in the zero tariff list. Although the final retail prices will still depend on logistics and US state taxes, the removal of import duty will make these products much cheaper.
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