New Delhi, Feb 3 (IANS) The India-US trade deal is a win-win deal and citizens and industries of both countries will benefit greatly from this agreement, Union Minister Ashwini Vaishnaw said on Monday.
In a detailed post on Truth Social, US President Donald Trump said the agreement would immediately reduce the US reciprocal tariff on Indian goods from 25 per cent to 18 per cent, calling it a major shift in bilateral trade ties linked to energy cooperation and broader geopolitical goals.
“US and India are world’s largest democracies. Both countries are natural allies. Together, India and US have huge potential to work for peace and development,” said Vaishnaw.
“US and India have complementary strengths. Both countries can co-create technologies and co-develop solutions that will benefit the world. Trade deal between US and India will lead to brighter future for both countries. India-US trade deal is a win-win deal. Citizens and industries of both countries will benefit greatly from this deal,” the minister added.
As part of the trade deal, the United States will drop a 25 per cent tariff linked to Russian oil purchases as part of India’s agreement to stop buying crude from Russia
Prime Minister Narendra Modi said that ‘Made in India’ products will now have a reduced tariff of 18 per cent, as US President Donald Trump said India and the United States had reached a trade deal.
He posted on X that it was “wonderful to speak with my dear friend President Trump today”.
“Delighted that ‘Made in India’ products will now have a reduced tariff of 18 per cent. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” Prime Minister posted.
“When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation. President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace,” PM Modi further stated.
He said he looks forward to working closely with Trump to “take our partnership to unprecedented heights”
—IANS
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