India to buy up to $80 billion in Boeing aircraft as part of U.S. trade deal
Shri Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, speaks to the media about EU-India trade relations. India will waive customs duties on industrial imports from four European countries in exchange for an investment of $100 billion over 15 years, ending nearly 16 years of negotiations.
Thierry Monasse | Getty Images News | Getty Images
New Delhi ready to order up to $80 billion Boeing’s aircraft, Indian Minister of Commerce and Industry Piyush Goyal reportedly he said, signaling New Delhi’s desire to expand trade with the US
Goyal said on Thursday that India’s aircraft demand alone, where Boeing orders are “not yet placed but ready”, is about $80 billion, adding that if engines and other spare parts are added, imports from the US will “exceed $100 billion.” [from] planes.”
Families of passengers killed in the Air India plane crash in Ahmedabad in June last year A lawsuit is being filed against BoeingThe Minister, on the allegation that faulty binary switches played a role in the disaster in which 241 of the 242 people on board lost their lives.
The minister also said there was the potential to supply a minimum of $500 billion worth of goods from the United States over the next five years, but clarified that there was no explicit investment commitment under the trade agreement with Washington.
On Monday, within a week of signing the India-EU trade deal, US 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 reduce customs duties on Indian goods to 18 percent, while New Delhi would reduce customs duties on US goods to zero, replace Russian oil with supplies from the US and Venezuela, open sensitive markets such as agriculture and buy $500 billion worth of American goods.
The Indian Prime Minister expressed his satisfaction with the tax cuts as goods coming from the country are subject to a 50% customs duty to the US, but did not acknowledge other details shared by Trump.
While experts agree that India will buy more products from the US, they say its target of buying $500 billion worth of goods from Washington “seems to be stretched”.
General goods of India imports In fiscal year 2025, the trade deficit was $94.3 billion to $720.24 billion. This includes goods value 45.3 billion dollars from the USA
Agreement timeline
India and the US will sign a joint declaration finalizing the first tranche of the trade agreement between the two countries in the next 3-4 days, Goyal said on Thursday. He added that the 18% tariffs on India’s exports to the US will come into force after the joint statement is published.
The two sides will then sign a formal agreement in mid-March, after which the duty concession for US goods entering India will come into effect.
Since the deal was announced, the Indian government has been short on details and has faced questions from opposition political parties.
Rahul Gandhi, leader of the Indian opposition accused “Compromise” and “Surrender to tariffs” mode.
The Indian government has not confirmed some of Trump’s claims about the trade deal, such as India reducing tariffs on US goods to zero, stopping imports of Russian oil and pledging to purchase $500 billion worth of goods.
Experts say Trump’s claims appear “unrealistic” and the US risks backing out of the trade deal, citing his threat to increase tariffs on South Korea, which he reduced in July last year despite the trade agreement.
