Revisions reflect mutual understanding: India after US tones down trade deal
The Ministry of External Affairs stated that the joint statement remains the framework for the proposed Interim Agreement on reciprocal and mutually beneficial trade, and both sides will now work toward implementing and finalising the agreement.
The government on Thursday said that the recent changes made by the United States to its trade deal factsheet reflected the "mutual understanding" reached between the two countries earlier this month on a framework for an interim agreement.
The Ministry of External Affairs (MEA) underlined that the India-US Joint Statement issued on February 7 remained the basis of the agreement, and both sides will now work towards implementing this framework and finalising the interim agreement.
"As you are aware, the India-US joint statement on the framework for an interim agreement on reciprocal and mutually beneficial trade was issued on February 7," External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing.
"The joint statement is the framework and remains the basis of our mutual understanding in the matter. Both sides will now work towards implementing this framework and finalising the interim agreement," he added.
WHITE HOUSE EDITS FACT-SHEET
A day after the White House released its factsheet outlining key elements of the interim trade deal, the document was quietly revised to reflect agreed positions more accurately.
The original version had stated that India 'commits' to buying more than USD 500 billion worth of US goods, including energy, technology and other products, over a defined period. That wording was softened in the updated factsheet to say India 'intends' to buy such goods, aligning the language with the joint statement agreed by both sides.
"India intends to buy more American products and purchase over $500 billion of US energy, information and communication technology, coal, and other products," it said.
The revisions also removed references to "certain pulses" from the list of US agricultural products on which India would reduce or eliminate tariffs, a change seen as sensitive given the importance of the sector domestically.
Sources told news agency PTI that the Indian side objected to certain wordings in the fact sheet, after which the White House revised the document.
CHANGES TO DIGITAL TRADE AND TARIFFS
In addition, the earlier version's language about India "removing its digital services taxes" was dropped from the revised factsheet.
The updated version instead stated that India has 'committed' to negotiating bilateral digital trade rules, a shift suggesting that some terms are still under discussion.
On tariffs, the framework envisaged reciprocal cuts. The US has agreed to lower tariffs on Indian goods to around 18 per cent from previous higher levels, while India will reduce or eliminate import duties on US industrial products and a broad range of American food and agricultural items (minus the now-omitted pulses).
FRAMEWORK TO FINAL AGREEMENT
The MEA reiterated that the February 7 joint statement, which laid out the framework for a reciprocal and mutually beneficial trade agreement, continues to guide both sides. The revised factsheet amendments, New Delhi said, reflected the mutual understandings contained in that statement and will feed into negotiations on the interim pact.
Officials on both sides aim to finalise the trade deal by mid-March 2026, with implementation of tariff cuts and related provisions expected to follow thereafter.