Historic Tariff Reduction Boosts Indo-US Trade Relations

Odisha CM Mohan Charan Majhi praised a new Indo-US trade agreement reducing tariffs on Indian exports to 18%. This deal signifies a 'people-focused' diplomacy, aiming to boost Indian manufacturing, MSMEs, and job creation while enhancing India’s global economic presence.

In a significant development for Indo-US trade relations, Odisha Chief Minister Mohan Charan Majhi has expressed commendation for Prime Minister Narendra Modi's efforts in securing a beneficial trade agreement with the United States.

This newly brokered agreement, as announced by US President Donald Trump, will see a decrease in reciprocal tariffs on Indian goods from 25% to 18%. The decision came after a conversation between President Trump and Prime Minister Modi, signaling a major advancement in economic ties between the two nations.

Majhi hailed the tariff reduction as a 'historic advancement in India-United States economic relations'. He emphasized that this could bolster Indian manufacturing, empower MSMEs, create jobs, and open up new markets for entrepreneurs and startups. BJP MP Baijayant Panda also praised the move, highlighting its potential to significantly enhance trade and investment dynamics between the two largest democracies.

(With inputs from agencies.)