New Delhi, Feb 7 — External Affairs Minister S. Jaishankar praised the interim trade framework announced between India and the United States, saying it will expand market access for Indian exporters and strengthen the government’s Make in India initiative. In a post on X, he described the arrangement as a “mutually beneficial India‑US trade partnership” that opens new opportunities for exporters and supports domestic manufacturing.
The framework, issued jointly by the White House and India’s Commerce Ministry, is presented as a stepping stone toward broader US‑India Bilateral Trade Agreement (BTA) negotiations that were launched by Prime Minister Narendra Modi and President Donald Trump in February 2025.
Under the deal, the United States will apply a reciprocal tariff rate of 18 percent on certain Indian‑origin goods, including textiles and apparel, leather and footwear, plastics and rubber, organic chemicals, home décor and artisanal products, and some types of machinery. The US will also remove tariffs on certain aircraft and aircraft parts that had been imposed citing national security concerns.
India has agreed to eliminate or reduce duties on a range of US industrial and agricultural products. The list cited in the joint statement includes dried distillers’ grains (DDGs), red sorghum for animal feed, various tree nuts, fresh and processed fruits, soybean oil, wine and spirits, among others. The agreement also notes India’s intention to purchase up to USD 500 billion of US goods over the next five years, spanning energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal.
Union Commerce Minister Piyush Goyal welcomed the framework, saying it would open access to a global market valued at roughly USD 30 trillion for Indian exporters. In a post on X, he said the deal is expected to particularly benefit micro, small and medium enterprises (MSMEs), farmers and fishermen, substantially boost exports and generate lakhs of new jobs, with notable gains for women and youth.
The announcement frames the interim agreement as a mutually negotiated step to deepen trade ties while formal BTA talks continue. (ANI)
