Breakthrough in India-US Trade Deal: Tariff Reduction Announced

Indian Commerce Minister Piyush Goyal is anticipated to address Parliament regarding the new India-US trade agreement, which includes a reduction in tariffs on Indian goods from 25% to 18%. Prime Minister Modi expressed gratitude to President Trump for this turn of events, benefitting India's export sector.

Commerce and Industry Minister Piyush Goyal is set to address Parliament on Tuesday about a significant India-US trade agreement, according to sources.

Goyal is reportedly returning to Delhi from Mumbai to present the statement. This development follows President Donald Trump's announcement of reduced tariffs on Indian goods from 25% to 18% after discussions with Prime Minister Narendra Modi.

In response, Modi expressed his delight over the 'Made in India' products benefiting from the tariff cut, extending thanks to President Trump on behalf of 1.4 billion Indians.

(With inputs from agencies.)