New Delhi, Feb 7: PM Modi announced a significant interim trade agreement between India and the US, which reduces US tariffs on Indian goods to 18%.
This framework, praised by Modi as ‘great news’, emphasizes the growing partnership between the two nations. It aims to enhance the ‘Make in India’ initiative, benefiting various sectors such as agriculture, MSMEs, and startups, by creating numerous job opportunities specifically for women and youth.
Commerce Minister Piyush Goyal detailed that this deal opens a $30 trillion market for Indian exporters and includes zero tariffs on specific goods like generic pharmaceuticals and aircraft parts.
The agreement also preserves protections for sensitive agricultural products, reinforcing India’s commitment to rural livelihoods and farmer interests.
The removal of tariffs is contingent on the successful conclusion of the agreement, which aims to strengthen investment and technology partnerships while contributing to global economic growth.
