Commerce and Industry Minister Piyush Goyal
Commerce and Industry Minister Piyush Goyal said in a press briefing that under the interim trade agreement, India has achieved zero tariff facility on many of its exports to America, due to which agri, pharmaceuticals and high value manufactured goods have benefited the most. Keeping the interests of farmers paramount, Goyal stressed that this agreement will open the US market for many Indian agricultural products without imposing any reciprocal tariffs, and will also ensure that domestic farmers do not suffer any loss. Goyal said that even in the agricultural sector, many Indian products can now be exported to America at zero tariff. He further said that there will be no tariff in America on items like tea, spices, coffee, coconut oil, copra and vegetable wax.
No tariff on these agri products
He said a wide variety of fruits, vegetables and agricultural products, including bananas, mangoes, guavas, avocados, kiwis, papayas, pineapples, mushrooms, root vegetables, grains, barley, bakery products, cocoa products, sesame seeds, poppy seeds and citrus fruit juices, will be able to enter the US market without any duty. Goyal said that there is discussion in the entire country that many agricultural products of India will now be able to enter America at zero duty.
Addressing a Press Conference on the #IndiaUSJointStatement. https://t.co/S1E3Q3Yv4K
— Piyush Goyal (@PiyushGoyal) February 7, 2026
He reiterated that the government has not taken any step to harm the interests of farmers. Goyal said that I can say with full confidence that this India-US deal does not in any way harm the interests of India’s farmers, small and medium enterprises (MSMEs) or the handloom and handicraft sectors.
Benefits from pharma to electronics
Apart from agriculture, Goyal said there will be no duty on India’s pharmaceutical exports worth about $13 billion to the US. There will be no duty on export of gems and jewelery as well as many other high priced products. Talking about the future, Goyal said that there will be no duty on smartphones exported from India in future, and reciprocal duty on many other Indian exports will be reduced to zero.
These include aircraft and machinery parts, generic drugs and pharmaceutical products, gems and diamonds from Bengal, Kerala and Maharashtra, coins, platinum, watches, essential oils, select home decoration items like chandeliers, seeds, inorganic chemicals and compounds. There will be no reciprocal charges on these products. Goyal said that now the duty in America will be zero. The minister stressed that the agreement reflects India’s growing export potential, while maintaining a balance between market access and domestic safeguards, especially for agriculture.