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From almonds to alcohol: what gets cheaper after India–US tariff cuts
INDIA: From almonds to alcohol, American imports are about to get easier on the Indian wallet. India and the United States have agreed on a framework for an interim trade deal that will slash tariffs on a swathe of US food and agricultural products, while offering Washington reciprocal access to Indian exports.
Under the proposed pact, India will eliminate or reduce duties on products ranging from animal feed and grains to fruit, oils and spirits. Items set to become cheaper include dried distillers’ grains, red sorghum, tree nuts, fresh and processed fruit, soybean oil, and wine and spirits: categories long flagged by US exporters as over-taxed.
Beyond tariffs, India has agreed to tackle non-tariff barriers affecting US shipments of medical devices, information and communication technology goods, and food and agricultural products, a persistent irritant in bilateral trade talks.
The US, in turn, will lower tariffs on Indian-origin goods from as high as 50 per cent to a reciprocal rate of 18 per cent. The cuts apply to sectors including textiles, apparel, leather, footwear, plastics, chemicals, home décor and selected machinery. The higher duties had been imposed after earlier negotiations stalled, amid USA’s criticism of India’s oil purchases from Russia.
If the interim deal is concluded, the tariff rollback could widen further. Indian officials see scope for expanded access for generic pharmaceuticals, gems and diamonds, and aircraft parts: sectors where India has long sought relief.
Trade concessions are being paired with big-ticket buying. India has signalled plans to purchase $500 billion worth of US energy products, aircraft, precious metals, technology goods and coking coal over the next five years, underscoring the commercial heft behind the diplomatic reset.
The agreement also lays groundwork for cooperation on supply-chain resilience and digital trade, alongside the creation of “rules of origin” designed to ensure benefits accrue primarily to India and the US, rather than third countries routing exports through them.
The framework marks a thaw after a bruising phase in ties. The US had imposed a 25 per cent punitive tariff on Indian goods, which President Donald Trump recently lifted via executive order. The interim pact now serves as a bridge towards a broader bilateral trade agreement first floated by prime minister Narendra Modi and US President Donald Trump in February 2025.
Brands
Preeti Misra Joins Open Media & Fortune India as Head of Events
Preeti Misra brings two decades of experience to a business that smells opportunity in live gatherings
MUMBAI: Fortune India is serious about live events and it has just hired someone who knows how to fill a room. Preeti Misra has been appointed Head of Events at Open Media & Fortune India, the RP-Sanjiv Goenka Group’s media and publications arm, tasked with turning both brands into destination platforms for India’s business and intellectual elite.
Misra arrives with more than 20 years of experience in marketing communications, brand strategy and large-scale events. She has held senior roles at India Today Group, Laqshya Media Group, Times Internet and C S Direkt Events & Exhibitions, a career that spans mass-market spectacle and niche power gatherings alike. Few in the industry have logged that many miles across so many formats.
In her new role, she will run the events vertical across both Open Media and Fortune India, with a brief to build what the group describes as high-impact intellectual and experiential platforms, the kind that blur the line between editorial credibility and boardroom currency. She will report directly to Sahil Shetty, Chief Executive Officer of Open Media & Fortune India.
The appointment signals a clear strategic push. Events have become a serious revenue line for legacy media houses in India, offering advertisers something a banner ad cannot: a captive room full of decision-makers. For Fortune India, a brand that already speaks to the C-suite, the upside is obvious. Misra’s job is to make it real and make it happen quickly.
