# Union commerce and industry minister Piyush Goyal shared the joint statement on social media.

*business · news · 2026-02-07 · Hindustan Times*

## Key points

- India and the US have agreed to an interim trade deal reducing tariffs on industrial goods.
- The US will remove tariffs on Indian aircraft parts previously imposed for national security reasons.
- India committed to $500 billion in purchases of US energy, aircraft, and technology over five years.
- India has not officially confirmed stopping Russian oil imports, despite US claims to that effect.
- A safeguard clause allows either country to adjust commitments if agreed tariff levels change.

**Countries:** India, United States

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