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Union commerce and industry minister Piyush Goyal shared the joint statement on social media.
India and the US have agreed to an interim trade deal reducing tariffs on industrial goods.
KEY POINTS
- 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.
COMPANIES
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