India–US Seal Historic Trade Deal; Tariffs on Indian Goods Cut to 18%
Historic India-US Trade Agreement Boosts Technology and Economic Ties: An atmosphere of excitement has emerged in both India and the United States following the announcement of a landmark trade agreement between the two countries. US President Donald Trump on Monday announced that India and the United States have finalized a trade deal, under which reciprocal tariffs on Indian goods entering the US will be reduced from 25 percent to 18 percent.
President Trump shared the development after a phone conversation with Prime Minister Narendra Modi, calling the agreement a major step forward in strengthening bilateral economic ties.
Reacting to the announcement, Union Commerce and Industry Minister Piyush Goyal described the agreement as “historic” and congratulated both leaders for their vision. In a post on social media platform X, Goyal said the deal reflects the power of shared prosperity between two like-minded democracies. He added that the agreement would promote technology sharing, innovation, and cooperation for peace and development.
Highlighting its domestic impact, Goyal said the deal would create new opportunities for farmers, small and medium enterprises (MSMEs), entrepreneurs, and India’s skilled workforce. He noted that the agreement would further strengthen the government’s “Make in India, Design in India, Innovate in India” initiative and help India access advanced technologies from the US. According to the minister, the trade pact marks a turning point in India-US relations and supports India’s long-term goal of becoming a developed nation by 2047.
India-US Trade Agreement Strengthens Make in India, Say Piyush Goyal
Union Railway Minister Ashwini Vaishnav also welcomed the agreement, calling it a “win-win” for both nations. He said India and the United States, as the world’s largest democracies, are natural allies with immense potential for peace and development. Vaishnav emphasized that deeper technology sharing under the deal would help both countries develop global solutions and deliver significant benefits to citizens and industries alike.
The US-India Strategic Partnership Forum (USISPF) also hailed the announcement, stating that the agreement reflects a strong commitment by both governments to advance economic cooperation and deepen bilateral trade ties following discussions between President Trump and Prime Minister Modi.
Meanwhile, National Stock Exchange (NSE) Managing Director and CEO Ashish Chauhan termed the deal a welcome step for global trade. He said the tariff reduction would have an immediate impact and described the agreement as a major victory for trade, supply chains, and the India-US partnership. Chauhan added that the deal would strengthen economic, technological, and business cooperation, opening new opportunities across sectors including agriculture and industry.
Overall, the India-US trade agreement is being widely viewed as a significant boost to bilateral relations, with expectations of increased trade, stronger supply chains, and deeper strategic cooperation between the two countries.
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