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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.
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Hyundai and TVS Motor partner to develop electric three wheelers
Joint development pact targets last mile mobility with localisation push
MUMBAI: Three wheels, one big ambition and a charge towards the future. Hyundai Motor Company and TVS Motor Company have signed a joint development agreement to co-create electric three-wheelers (E3Ws), aiming to crack India’s complex last-mile mobility puzzle. The collaboration moves beyond concept talk into execution mode, building on the E3W prototype first showcased at the Bharat Mobility Global Expo 2025. The goal now is clear, design, develop and commercialise a purpose-built vehicle tailored to Indian roads, riders and realities.
Under the agreement, Hyundai will lead design and co-development, bringing its global R&D muscle and human-centric engineering approach to the table. TVS Motor, meanwhile, will anchor the product on its electric platform, leveraging deep three-wheeler expertise and local market insight. It will also handle manufacturing and sales in India, with an eye on exports down the line.
The timing is strategic. India remains the world’s largest three-wheeler market, where affordability, durability and adaptability often outweigh sheer innovation. The upcoming E3W aims to strike that balance combining advanced technology with practical features such as adaptive ground clearance for monsoon-hit roads, improved thermal management for tropical climates, and flexible interiors suited for passengers, cargo or emergency use.
A key pillar of the partnership is localisation. Major components will be sourced and manufactured within India, a move expected to strengthen the domestic supply chain, create jobs, lower costs and improve after-sales support.
The shift from prototype to production will involve rigorous testing, certification and refinement to meet regulatory standards and consumer expectations. Dedicated cross-functional teams from both companies are already in place to accelerate timelines.
At a broader level, the tie-up reflects a growing trend in mobility, global players partnering with local specialists to navigate emerging markets. For Hyundai and TVS, the bet is that combining scale with street-level insight could unlock a new chapter in sustainable urban transport, one that runs not just on electricity, but on relevance.
