New Delhi, Feb. 8 -- The first phase of the India-US bilateral trade deal will slash the tariffs on Indian automotive components from 50% to a 0-18% range, marking a major win for the industry, although import bills for US buyers of Indian parts remain around 16% higher than a year ago.

The tariff relief in the US, the world's second-largest auto market, comes at a time when Indian auto exports are struggling in Europe's saturated markets.

India's commerce and industry minister Piyush Goyal said on Saturday that around half of India's auto parts exports will be tariff-exempt, while the remainder would see an 18% duty-significantly lower than the 50% tariff on all Indian items imposed by US President Donald Trump last year.

"For the Ind...