India-US trade deal operational soon! Other FTAs will follow, here's what Union minister Goyal said
Times of India
by TOI BUSINESS DESKFebruary 20, 2026
AI-Generated Deep Dive Summary
India is on the brink of operationalizing several key trade agreements, starting with a landmark interim deal with the United States and potentially followed by agreements with the United Kingdom, Oman, and New Zealand. Union Commerce and Industry Minister Piyush Goyal announced that the India-US trade agreement is expected to come into effect in April, following months of negotiations. The deal includes reciprocal tariff reductions, with US tariffs on Indian exports dropping from 50% to 18%, while India will lower its tariffs on American products. This move aims to enhance market access for Indian farmers, fishermen, and small businesses, particularly opening pathways to the massive $30 trillion US market.
The agreement also addresses long-standing trade tensions between the two nations, including the Trump administration's decision to impose a 50% tariff on Indian exports in response to India’s purchase of Russian crude oil. The interim deal was finalized after three days of talks starting on February 23, which will now focus on formalizing the legal text. Meanwhile, similar pacts with New Zealand and other countries are scheduled for implementation later this year, signaling a broader push by India to strengthen its global trade ties.
The operationalization of these agreements underscores India’s strategic pivot toward expanding its export markets while fostering economic partnerships with key global players. The deals not only promise to boost bilateral trade but also align with India’s vision of diversifying its international relations and reducing dependence on any single market. For readers interested in global trade dynamics, this development highlights India’s growing role as a pivotal player in shaping international commerce and its efforts to leverage trade agreements for economic growth and job creation.
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Originally published on Times of India on 2/20/2026