Washington/IBNS, Feb. 10 -- The White House has released an official factsheet detailing what it calls a "historic" India-US trade agreement, days after President Donald Trump's remark about "zero tariffs" stirred debate and uncertainty among traders and industry stakeholders.

The proposed deal aims to expand market access, lower trade barriers and deepen economic cooperation between the world's largest democracy and its biggest economy.

According to the White House, the agreement lays out a structured framework for tariff reductions, regulatory cooperation and long-term growth in bilateral trade.

As outlined in the statement, the United States has agreed to reduce its reciprocal tariff on Indian goods from 25 percent to 18 percent.

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