India, Feb. 8 -- Between Monday's announcement of an India-US trade deal and Saturday's joint statement with finer details, a big question, worth $500 billion, remained. While US tariffs on Indian produce were reduced from 50 per cent to 18 per cent, it was not clear what India would import from the United States. However, that has now been answered.

A detailed framework for an interim trade deal was released in a joint statement on Saturday, confirming reduced US tariffs, both countries' commitment to zero duties on select products, market-opening measures, and an overall deeper economic relationship.

The trade deal also gives India a competitive edge over other countries, such as China, Vietnam, Indonesia, Bangladesh and Pakistan, all...