US-India Trade Deal: Tariff Reductions on Textiles and Pharma

US and India signed trade agreement reducing tariffs on $12 billion in bilateral exports.

Textile tariffs cut from 18% to 8%. Generic pharmaceutical companies gain streamlined FDA approval pathway.

India commits to intellectual property protections and reduced agricultural subsidies on select crops.

Agreement expected to boost Indian exports by $4 billion annually and create 200,000 jobs.

Congressional approval required in US; Indian cabinet ratification expected within 30 days.