New Delhi [India], February 7 (ANI): External Affairs Minister S Jaishankar on Saturday praised the interim trade agreement between India and the United States, saying it will expand market access for Indian exporters.
In an X post, Jaishankar said the framework will bolster the Centre’s “Make in India” vision. “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,” he wrote.
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, according to a joint statement from the White House and India’s Commerce Ministry.
Under the deal, the US will apply a reciprocal tariff rate of 18 percent on Indian-origin goods, covering textiles and apparel, leather and footwear, plastic and rubber, organic chemicals, home decor, artisanal products, and certain machinery. The United States will also lift tariffs on some aircraft and aircraft parts that had been imposed due to national security concerns.
India agreed to eliminate or reduce tariffs on US industrial goods and a wide range of food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, among others. The agreement also includes India’s intention to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years.
Union Commerce Minister Piyush Goyal welcomed the framework, saying it would open access to a USD 30 trillion market for Indian exporters and particularly benefit MSMEs, farmers, and fishermen. In an X post, Goyal added that the agreement would significantly boost exports and create lakhs of new jobs, especially for women and youth. (ANI)
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