The trade agreement between India and the US (Indo-US Mini Trade Deal) can be announced anytime tonight, as the deadline of the American tariff is July 9, that is, today is the last day. The deadline for the rest of the countries has been extended till 1 August, but India has not been included in this list. In such a situation, there are speculations that the official announcement of the deal between India and America may be made today.
On Tuesday, a senior official said that there was a consensus on a limited trade deal between the two countries. Both countries have reached the mini trade deal, as many areas have not yet agreed. According to the senior official, India and the US have successfully interacted on the limited trade agreement (Indo-US Mini Trade Deal). The deal took place after several weeks of intensive discussion. The officer said that India is adamant on its demands. India was also ready to bear the US tariff, but Washington showed a desire to negotiate and the two countries got a deal. However, the official announcement has not been made yet.
How much can America be imposed on India?
The information about the Indo-US trade agreement has not yet been revealed, due to which it is not yet clear how much tariff will be imposed on India. However, some reports states that the US may impose tariffs between 10 and 20 percent on India, as Donald Trump has threatened to impose 10 percent additional tariffs on BRICS countries, which is also a member of India. In such a situation, tariff cannot be less than 10 percent. Currently, a 26 percent mutual tariff has been announced on India.
This agreement will be beneficial for India
India exported goods worth Rs 6.84 lakh crore to the US in FY 2022-23, while in FY 2023-24 it exported goods worth Rs 6.75 lakh crore. Whereas, in FY 2022-23, India imported goods worth Rs 4.43 lakh crore from the US and in 2023-24 the imports declined to Rs 3.67 lakh crore. In such a situation, India sends double worth of goods to America and imports less things. In such a situation, if the tariff remains between 10 and 20 percent, then it will be beneficial for India.
India also benefited from more tariffs on China-Bangladesh
After the Geneva Agreement in May 2025, China has imposed an average tariff on the US on an average, while the US has imposed an average of about 51 percent tariffs on Chinese products and is talking about increasing it from 1 August. In such a situation, India will benefit. At the same time, the US has imposed a 35 percent tariff on Bangladesh, which can affect the textile business there, which is beneficial for Indian companies.
What will be the benefit of both countries with this agreement?
India will get a chance to export more textiles, medicines and jewelery in the US market. The removal of 26% mutual duty will make Indian exports cheaper and trade will increase. By 2030, bilateral trade between India and the United States can reach $ 500 billion. If we talk about America, then you will get a chance to sell products such as Pekan, Blueberry and Automobiles at low fees in India. Also, America will get a chance to strengthen its position in the Asian market. In addition, there may also be a comprehensive agreement with India in the future.
