New Delhi, Feb. 7 -- As India and the US announced the framework for a bilateral trade deal, India will get tariff-free access to certain aircraft and aircraft parts from the US under this, said the US-India joint statement released on Saturday.

The joint statement from the White House noted that India will receive a preferential tariff rate quota (TRQ) for automotive parts, subject to the applicable tariff.

Also, India is set to receive "negotiated outcomes" with respect to generic pharmaceuticals and ingredients.

"The United States and India commit to provide each other preferential market access in sectors of respective interest on a sustained basis," the joint statement read.

The US and India have announced in the joint statement ...