The tariff reduction, confirmed by US President Donald Trump following talks with Prime Minister Narendra Modi, effectively withdraws additional duties that had pushed levies on some Indian exports as high as 50 per cent.
Finalized in mid-2025 after extensive talks between Pakistan’s SIFC and US agencies, the deal supports Washington’s strategy to diversify critical mineral supply chains and reduce reliance on China.
The centre has sounded an alarm over the likely impact of El Niño on India's 2026 southwest monsoon, warning that 315 districts across 12 states could face significant rainfall deficits during the crucial kharif cropping season.