India US interim trade pact: From diamonds to silk — Full list of products under 18% tariffs

Sector Goods Benefits Gems and jewellery Cut and polished diamonds, lab-grown synthetic diamonds, coloured gemstones, synthetic stone, as well as articles of gold, silver, platinum and others.

• Access to an overall market of $61 billion.
• A zero per cent duty market access of $29 billion has been provided for major gemstones like diamonds, platinum, coins, etc.
• Competitive edge in terms of additional duties levied by the USA on China (35 per cent), South Africa (30 per cent), and Thailand (19 per cent)

Textiles and apparel Silk, ready-made garments, carpets, hand-made textiles, cotton textiles, etc.

• Tariffs to be slashed on exports, specifically silk, to go down to 0 per cent, with access to a market worth $113 billion
• Competitive edge in terms of additional duties levied by the USA against China (35 per cent), Vietnam (20 per cent), Bangladesh (20 per cent), and Indonesia (19 per cent)

Agriculture (US to India) Dried distillers’ grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits India to eliminate or reduce import duties  Leather and footwear Finished leather, leather footwear, and footwear components

Access to a market worth $42 billion

Competitive edge in terms of additional duties levied by the US against China (35 per cent), Vietnam (20 per cent), Indonesia (19 per cent), Cambodia (19 per cent), Phillippines (19 per cent), and Thailand (19 per cent)

Home decor Wood and furniture, pillows, cushions, quilts, comforters, non-electrical lamps, seats, chandeliers, illuminated signs, parts of lamps, etc. 

• Tariffs to be slashed from 50 per cent to 18 per cent on Indian exports, including wood and furniture, and pillows, with access to a market worth $52 billion
• Zero per cent duty-free access to a market worth $13 billion, comprising products including seats and chandeliers
• Competitive edge against China (35 per cent), Vietnam (20 per cent), Malaysia (19 per cent), Indonesia (19 per cent), Cambodia (19 per cent), and Thailand (19 per cent)

Machinery and parts — 

• Manufacturing boost with a reduction of tariffs, with access to a market of $477 billion, with current India exports worth $2.35 billion
• Competitive edge against Vietnam (20 per cent), Malaysia (19 per cent), and Thailand (19 per cent)

Toys —

• Access to a market worth $18 billion
• Competitive edge in terms of tariffs imposed against China (35 per cent), Vietnam (20 per cent), and Indonesia (19 per cent)