The India-US Interim Agreement on trade reduces tariffs from 25% to 18% on imports from India. This has raised investor hopes but also left key details unclear. The deal was announced on February 7 but created doubts on four main areas: oil, agriculture, textiles, and US goods imports. President Donald Trump said India agreed to stop buying Russian oil, leading to the removal of a 25% penal tariff on those imports. Commerce Minister Piyush Goyal expects the formal tariff cut to 18% to be announced this week. India will lower tariffs on US industrial and various agricultural products like nuts, fruits, soybean oil, and wine. India intends to buy $500 billion of US energy, aircraft, precious metals, technology products, and coal over five years. However, the government has avoided confirming the Russian oil import deal despite US statements. Foreign Secretary Vikram Misri said energy choices depend on pricing and risks but didn’t directly address Russia. Agriculture triggered controversy as the deal includes eliminating tariffs on many US farm goods. Goyal assured sensitive items like pulses, including green peas and moong, and dairy are excluded. The White House initially listed pulses in tariff cuts but later removed them. Both Goyal and Agriculture Minister Shivraj Singh Chouhan assured farmers their interests stay protected. On textile exports, India hopes to match Bangladesh’s benefits. If Indian textile makers use American cotton, their exports will face zero US tariffs. This came after Bangladesh-US trade deal set tariffs at 19% but offered zero duty for goods made with US cotton. Goyal said the $500 billion import figure does not signal supply chain dependence on the US as India’s overall imports are growing. The full agreement is expected by mid-March, when more details will be clear.