Kolkata (West Bengal) [India], February 7 (ANI): Rajya Sabha MP and former foreign secretary Harsh Vardhan Shringla said the India‑US Interim Trade Agreement has given clarity to the business community and will lead to a very significant increase in Indian exports to the United States.
“This is a very important deal because it comes soon after we have concluded the mother of all deals with the European Union, 27 countries. After that, trade deal with the United States I think has given our exporters, our small industrialists, our farmers and our labourers a great advantage over our competitors. So I would say that our exports to the United States are going to increase very significantly,” Shringla told reporters.
He added that India will have market access to a large $30 trillion market, and combined with the EU that figure approaches $60 trillion, calling the development “very good news for all of our people, especially our youth.”
External Affairs Minister S. Jaishankar also praised the interim agreement, saying in an X post that “the framework for an Interim Agreement will realise a mutually beneficial India – US trade partnership. The framework will ensure greater market access and opportunities for our exporters. New vistas have opened up that will further promote Make in India.”
The two countries announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, a step toward advancing broader US‑India Bilateral Trade Agreement (BTA) negotiations launched by Prime Minister Narendra Modi and President Donald Trump in February 2025, a joint statement from the White House and India’s Commerce Ministry said.
Under the agreement, the US will apply a reciprocal tariff rate of 18 percent on Indian‑originating goods, including textiles and apparel, leather and footwear, plastic and rubber, organic chemicals, home decor, artisanal products, and certain machinery. (ANI)
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