Under the interim trade deal framework announced between India and the US, India has given an agreement to reduce or zero the import duty on some selected agricultural products. This list includes products like DDGS, soybean oil, nuts, fruits, wine-spirits. Data shows that even before the deal, US agriculture imports were growing rapidly. In 2024, the US exported about $2.4 billion to India, while India exported more than $6.2 billion to the US. At present the duty on soybean oil is about 27.5% in crude and 36% in refined. US’s share is limited, so the impact is also considered limited.
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