India-US Trade Agreement: A New Era of Growth

Home Minister Amit Shah announced a significant interim bilateral trade agreement between India and the US. The agreement is set to boost India's economy, facilitating growth for various sectors, including MSMEs and startups, by reducing import duties and enhancing two-way trade.

India's Home Minister Amit Shah hailed the interim trade agreement with the US, describing it as a formidable step forward for India's economy. He highlighted that the deal aligns with Prime Minister Narendra Modi's vision of a 'Viksit Bharat' or developed India.

The announcement came as the two countries finalized the first phase of the bilateral trade agreement. Both nations will reduce import duties on multiple goods, fostering mutual trade growth. The pact is a testament to their commitment to broader bilateral trade negotiations initiated by leaders Modi and Trump in 2025.

The US will reduce tariffs on Indian products from 50% to 18%, while India will cut or eliminate import duties on American industrial and agricultural goods. This development promises to benefit Indian entrepreneurs, MSMEs, and innovators while generating employment opportunities for women and youth.

(With inputs from agencies.)