India-US Trade Deal Is Now 90% Complete: What It Means for Spice, Mango and Banana Exporters

On 25 September 2026, a senior US State Department official told reporters in Washington that the proposed India-US Bilateral Trade Agreement (BTA) is now "90 per cent completed," with only final details left to settle. Commerce and Industry Minister Piyush Goyal, speaking around the same time at the 13th Annual Forum 2026 India 3.0, described the pact as "done and dusted" but said India would execute it only once it secures "the right comparable competitive advantage" over competing exporters in the US market. USIBC President Atul Keshap urged both governments to move quickly to conclude what he called a historic agreement.

From a 50% Tariff to Zero, in Six Months

For exporters of spices, mangoes and bananas, the headline-grabbing 90% figure is less important than what already happened earlier this year. In August 2025, the US imposed a 50% tariff on Indian goods — a 25% reciprocal duty stacked with an additional 25% penalty tied to India's purchases of Russian crude oil. On 16 November 2025, the US cut duties on close to 200 agricultural and food products by executive order, covering spices such as black pepper, cumin, cardamom and turmeric, along with tea, coffee and a range of fruits and nuts. Then, on 7 February 2026, India and the US announced an interim trade agreement that brought the overall reciprocal tariff down from 50% to 18% and set a specific zero-duty list: spices, tea, coffee, cashew nuts, chestnuts, avocado, banana, mango, kiwi and papaya. Staple grains and proteins — maize, wheat, rice, sugar, soybean and poultry — were kept outside the concessions, with Goyal stating the deal keeps India's dairy sector fully protected.

What's Still Being Negotiated

The February framework was explicitly interim. The full Bilateral Trade Agreement that negotiators are now reportedly 90% through covers a broader set of issues, and neither government has given a public target date for signing it. That matters for exporters because the interim deal's zero-duty treatment for spices and select fruit was granted by executive action rather than a ratified treaty — it can be adjusted as the broader talks move, as the swing from 0% to 50% to 18% over the past fourteen months has already shown.

Business Takeaway

For exporters of Indian spices, mango and banana, the practical opportunity is already open, not pending: shipments falling under the interim deal's zero-duty list currently reach the US market without the reciprocal tariff that still applies to many other Indian export categories. That is a real, near-term cost advantage over competing origins still facing the full US tariff, and it is worth building into pricing and buyer conversations now rather than waiting for the final BTA signature. At the same time, the rapid policy swings of the past year are a reminder to keep contracts and landed-cost calculations flexible, and to track the BTA's progress rather than assume today's zero-duty list is permanent. SATA GreenX supplies Fresh Mango and Fresh Banana for export, alongside spices such as Black Pepper that fall within the categories currently benefiting from this tariff relief.