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 provided clarity to the business community and will trigger a substantial rise in Indian exports to the United States.
Shringla said the pact, coming after India’s major trade deal with the European Union, gives exporters, small manufacturers, farmers and workers a competitive advantage and is likely to push exports to the US up significantly.
He noted that the agreement opens access to a roughly $30 trillion market in the United States, and combined with the EU deal the total market opportunity approaches $60 trillion — a development he described as very good news for people across the country, particularly youth.
External Affairs Minister S. Jaishankar also welcomed the interim framework on X, saying it establishes the basis for a mutually beneficial India‑US trade partnership, will expand market access and opportunities for exporters, and will further promote Make in India.
A joint statement from the White House and India’s Commerce Ministry said the framework is a step 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 interim arrangement, the US will apply a reciprocal tariff rate of 18 percent on Indian‑origin goods. The list covers sectors including textiles and apparel, leather and footwear, plastics and rubber, organic chemicals, home decor and artisanal products, and certain machinery.
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