US-India Trade Agreement Ushers New Economic Era

The US and India have reached an initial trade agreement to lower tariffs on Indian goods to 18%. This move is seen as a significant step towards a comprehensive trade deal, expected to enhance economic resilience and open new market opportunities.

The US-India Strategic Partnership Forum has lauded President Trump's decision to reduce tariffs on Indian goods, marking a critical juncture in bilateral trade relations. The move, announced after discussions with Prime Minister Modi, is poised to lower reciprocal tariffs from 25% to 18%, signaling progress towards a comprehensive trade agreement.

While specific terms of the deal remain under negotiation, both countries express determination to advance towards a full-scale bilateral trade agreement. Such a pact is projected to yield substantial benefits for businesses and consumers in both nations, while bolstering economic resilience and strengthening supply chains.

Indian Ambassador to the US, Vinay Kwatra, described the trade pact as a 'big win', creating ample opportunities for both economies. Key business leaders echoed this sentiment, underscoring the agreement's potential to foster a robust economic partnership between the US and India, paving the way for collaboration in emerging technologies and other critical sectors.

(With inputs from agencies.)