India to buy Boeing aircraft worth up to $80 billion as part of US trade deal
Shri Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles of India speaking to the media on EU-India trade relations. India will waive duties on industrial imports from four European countries for an investment of $100 billion over 15 years, ending nearly 16 years of negotiations.
Thierry Monasse | Getty Images News | Getty Images
New Delhi is ready to place orders of up to $80 billion Boeing Aviation, Commerce and Industry Minister Piyush Goyal of India According to reports New Delhi is signaling its desire to increase trade with the US
India’s demand for the planes alone is close to $80 billion, with orders to Boeing “yet to be placed but ready,” Goyal said on Thursday, adding that if engines and other spare parts were added, imports from the US would “go beyond $100 billion (from planes) alone.”
Family members of the passengers who died in the Air India plane crash in Ahmedabad in June last year Boeing is being suedThe minister said that 241 out of 242 people lost their lives due to the alleged role of faulty double switch in the disaster.
The minister also said there was potential to buy at least $500 billion worth of goods from the US over the next five years, but clarified there were no clear investment commitments as part of a trade deal with Washington.
On Monday, within a week of India-EU trade transactionsUS President Donald Trump announced in a social media post that Washington and New Delhi have agreed on a trade deal.
Trump said the US would cut tariffs on Indian goods to 18%, while New Delhi would reduce tariffs on US goods to zero, replace Russian oil with supplies from the US and Venezuela, open up sensitive markets like agriculture and buy $500 billion worth of US goods.
India’s prime minister expressed his delight at the reduction in tariffs, as goods from the country entering the US face a 50% tariff, but did not acknowledge any other details shared by Trump.
While experts agree that India will buy more from the US, they say the target of $500 billion worth of goods from Washington “seems a stretch”.
Gross merchandise of India import was $720.24 billion in fiscal year 2025, its trade deficit was $94.3 billion. It includes items worth $45.3 billion from the US
Deal Timeline
India and the US will sign a joint memorandum in the next 3-4 days and finalize the first phase of the trade agreement between the two countries, Goyal said on Thursday. After the joint statement is issued, 18% tariff on Indian exports to the US will be imposed, he added.
The two sides will then sign a formal agreement in mid-March, after which tariff concessions for US goods entering India will take effect.
Since the deal was announced, the Indian government has been tight-lipped with details and facing questions from opposition political parties.
India’s opposition leader Rahul Gandhi has done it Accused Modi has “compromised” and “surrendered on tariffs.
The Indian government has not confirmed some of Trump’s claims about the trade deal, such as reducing tariffs on US goods to zero and halting imports of Russian oil, as well as a firm commitment to buy $500 billion worth of goods.
Experts say Trump’s claims seem “unrealistic” and the US is at risk of backtracking on the trade deal, citing threats to raise tariffs on South Korea, after downgrading them in July last year despite a trade deal.
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