Prime Minister Narendra Modi has celebrated the recent India-US interim trade agreement as a major win for Indian exporters and the economy. The deal reduces US tariffs on Indian products from punishing highs to 18%, freeing India from previous trade pressures.
Key Benefits Highlighted
- Opens a $30 trillion US market for Indian MSMEs, farmers, fishermen, and exporters, expected to create lakhs of new jobs.
- Safeguards sensitive sectors like agriculture and dairy while boosting textiles, pharmaceuticals, gems, and aircraft parts.
- Strengthens ‘Make in India’ by enhancing export competitiveness and providing exemptions on key items like auto parts.
Official Reactions
Modi expressed delight over the reduced tariffs on ‘Made in India’ products and thanked President Trump for the partnership. Commerce Minister Piyush Goyal called it a framework under Modi’s leadership that invigorates the economy and supports Viksit Bharat goals. This contrasts sharply with critical views, positioning the pact as a diplomatic and economic success for Modi.
