'Decided to give 0% tariff on some cancer medications, neuro treatment': Piyush Goyal on what US got
India-US interim trade agreement: Goyal mentioned that New Delhi has also considered exemptions for some medical equipment whose imports are necessary at present, despite them being developed in India.
- Feb 7, 2026,
- Updated Feb 7, 2026 2:49 PM IST
India-US interim trade pact: Union Commerce Minister Piyush Goyal said on Saturday that India has decided to give 0 per cent tariffs on some medications for cancer and heart-related ailments, as well as neuro treatments. Goyal mentioned that New Delhi has also considered exemptions for some medical equipment whose imports are necessary at present, despite them being developed in India.
On Saturday, India and the US announced a landmark framework for an interim trade deal, expected to be formalised as a legal agreement by mid-March 2026. The agreement has been designed to reduce trade barriers and boost bilateral trade through reciprocal tariff reductions.
Piyush Goyal said that India is also considering exemptions on organic and inorganic chemicals. The Union Minister mentioned that India granted duty concessions to the US in sectors such as alcoholic beverages, cosmetics, and medical devices since they would not harm our local market.
India has also decided to carry out a phased elimination of tariffs on some products being imported from the US for a long time, such as pistachios and almonds, he mentioned. He added that select US products on distillers' dried grains with solubles in a particular quantity, which will benefit the local livestock.
Commenting on imports at 0 per cent from the US, he said that it would depend on whether those goods are produced in India or not. Without divulging further, Goyal added, "[We] have worked out details on it as per our production capabilities."
Besides this, New Delhi has also committed to eliminating or reducing tariffs on all US industrial goods and a slew of American food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.
India also agreed to do away with restrictive import licensing procedures that delay market access for, or impose quantitative restrictions on, US Information and Communication Technology (ICT) goods, besides addressing long-standing barriers to trade concerning US medical devices.
Moreover, New Delhi intends to purchase $500 billion worth of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years.
India-US interim trade pact: Union Commerce Minister Piyush Goyal said on Saturday that India has decided to give 0 per cent tariffs on some medications for cancer and heart-related ailments, as well as neuro treatments. Goyal mentioned that New Delhi has also considered exemptions for some medical equipment whose imports are necessary at present, despite them being developed in India.
On Saturday, India and the US announced a landmark framework for an interim trade deal, expected to be formalised as a legal agreement by mid-March 2026. The agreement has been designed to reduce trade barriers and boost bilateral trade through reciprocal tariff reductions.
Piyush Goyal said that India is also considering exemptions on organic and inorganic chemicals. The Union Minister mentioned that India granted duty concessions to the US in sectors such as alcoholic beverages, cosmetics, and medical devices since they would not harm our local market.
India has also decided to carry out a phased elimination of tariffs on some products being imported from the US for a long time, such as pistachios and almonds, he mentioned. He added that select US products on distillers' dried grains with solubles in a particular quantity, which will benefit the local livestock.
Commenting on imports at 0 per cent from the US, he said that it would depend on whether those goods are produced in India or not. Without divulging further, Goyal added, "[We] have worked out details on it as per our production capabilities."
Besides this, New Delhi has also committed to eliminating or reducing tariffs on all US industrial goods and a slew of American food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.
India also agreed to do away with restrictive import licensing procedures that delay market access for, or impose quantitative restrictions on, US Information and Communication Technology (ICT) goods, besides addressing long-standing barriers to trade concerning US medical devices.
Moreover, New Delhi intends to purchase $500 billion worth of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years.