New Delhi, Feb. 7 -- Pharmaceutical exports from India to the US will continue to be provisionally shielded from Washington's reciprocal tariffs, which have been lowered from 50% to 18% on broader Indian exports. However, the conclusion of the interim trade deal and a separate national security investigation will determine the final outcome, according to a joint statement issued by both countries early on Saturday.

Under the deal, India will reduce non-tariff barriers to medical device exports from the US, the statement said.

The joint statement outlines a roadmap for reciprocal trade that places a heavy emphasis on securing pharmaceutical supply chains and expanding market access for medical technology.

The agreement, a precursor to t...