Business EconomyPosted at: Nov 15 2026 4:08PM


US to give India preferential market access, lower tariffs than rivals: Piyush Goyal

New Delhi, Nov 15 (UNI) India has secured an understanding with the United States that will give its exporters preferential access to the American market, with lower import duties compared to competing countries, Commerce and Industry Minister Piyush Goyal said on Sunday. The arrangement was agreed upon by Prime Minister Narendra Modi and US President Donald Trump when the two countries announced a broad framework for their bilateral trade agreement (BTA).
Speaking to reporters in Cairo, Goyal said negotiations were currently underway to finalise the first phase of the trade pact. He reiterated that the agreement would provide Indian goods with a tariff advantage over competing countries, although the extent of the benefit would depend on the final terms negotiated by both sides.
The minister is on a two-day visit to Egypt to explore opportunities for expanding trade and investment ties between the two countries.
India and the US had agreed on the framework for the first phase of their BTA in February. However, the proposed agreement, which was expected to be concluded earlier, has faced delays following changes in Washington's tariff policies, necessitating further discussions.
An Indian government official had recently indicated that the US had assured New Delhi of a comparative tariff advantage for Indian exports under the proposed arrangement. Both countries are now working towards concluding the first tranche of the agreement by the end of the current financial year.
The negotiations cover both the initial phase and the broader bilateral trade agreement. However, the final level of tariff concessions for Indian exporters will depend on the framework eventually agreed upon by the two governments.
The trade negotiations have also encountered uncertainty following a US Supreme Court ruling that struck down President Trump's reciprocal tariffs, which had served as the foundation for the earlier discussions. Following the ruling, Washington has been exploring alternative legal provisions under the Trade Act to establish a revised tariff structure.
The evolving US tariff regime has consequently added another layer of complexity to the negotiations, with both countries seeking to finalise the first phase of the trade agreement while working towards a broader trade arrangement.
UNI VK RSA
Tags: #US to give India preferential market access# lower tariffs than rivals: Piyush Goyal
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