In the world of international trade, a single verb can be worth billions of dollars. On February 10, 2026, the White House quietly issued a revised fact sheet for the “historic” US-India Interim Trade Agreement. This update followed a swift nudge from New Delhi after the initial document appeared to overstate India’s concessions.
The revisions indicate that while the Trump administration is eager to showcase a “win,” the Modi government remains unwilling to compromise on its strategic autonomy or its sensitive agricultural economy.
The Pulse Policy: Why Agriculture Remains India’s Red Line
One of the most glaring changes was the removal of the word “pulses” from the list of agricultural products slated for tariff reduction.
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The Pressure: In January 2026, US Senators Kevin Cramer and Steve Daines urged Trump to force India to lower its 30% duty on yellow peas.
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The Resistance: India, the world’s largest producer and consumer of pulses, views this sector as critical for food security.
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The Outcome: The revised fact sheet now lists tree nuts, soybean oil, and wine—but pulses are notably absent. India’s protective 18% “reciprocal” tariff replaces the previous 50% penalty, but the core agricultural protections remain intact.
From “Committed” to “Intends”: The $500 Billion Wordplay
The initial fact sheet claimed India was “committed” to purchasing $500 billion in US goods and services over five years. This caused an immediate stir in New Delhi, as it suggested a binding trade obligation.
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The Correction: The White House swapped “committed” for “intends.”
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The Scope: The revised version also removed “agricultural goods” from this purchase intent list.
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The Reality: India’s purchases will likely focus on energy (LNG), coal, and information technology, specifically GPUs for data centers, rather than staple crops.
The Digital Tax U-Turn: Google Tax Stays for Now
The White House initially stated India would “remove” its Digital Services Tax (DST). This was a point of major confusion because India had already phased out its 6% equalization levy in April 2025 but kept other rules like Significant Economic Presence (SEP).
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The New Language: The revised fact sheet now says India is “committed to negotiate” digital trade rules rather than “remove” specific taxes.
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The Stake: This allows India to maintain its leverage in the Artificial Intelligence (AI) sector, ensuring foreign tech giants can still be taxed on revenues generated from Indian users.
The Russian Oil Elephant in the Room
Perhaps the most contentious issue is the Executive Order signed by President Trump on February 7. It explicitly links the removal of the 25% “punitive” tariff to India’s pledge to stop buying Russian oil.
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The US View: Trump claims India has already begun “winding down” these purchases.
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The India View: Foreign Secretary Vikram Misri clarified that national interest and market conditions will continue to guide energy choices.
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The Data: While Russian oil imports dropped to a 38-month low in December 2025 (forming 25% of India’s total), a complete “zero-out” remains unconfirmed by New Delhi.
[US-INDIA TRADE DEAL: FACT SHEET REVISION TRACKER]
| Key Provision | Original Version (Feb 9) | Revised Version (Feb 10) | Status |
| Pulses Tariffs | “India will eliminate/reduce” | Removed from list | Protected |
| $500B Purchase | “India committed” | “India intends” | Non-Binding |
| Digital Tax | “India will remove” | “Committed to negotiate” | Ongoing |
| Agri Goods | Included in $500B list | Removed from list | Excluded |
Next Steps
To prepare for the final signing in mid-March 2026, you should watch for the “Rules of Origin” negotiations. These rules will determine if products assembled in India using Chinese parts qualify for the new 18% tariff rate. Furthermore, if you are in the energy sector, keep an eye on GAIL and Indian Oil Corporation’s upcoming LNG tenders, as these will be the first “intentions” turned into “commitments.”
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