India US Trade Deal: Leading industry leaders from India welcomed the India US trade deal after months of tariff-related issues between the world’s two superpowers.
In a post on Truth social, US President Donald Trump remarked that he is pleased to announce a deal with India. Trump thanked Indian Prime Minister Narendra Modi and acknowledged the mutually-beneficial economic relationships between the two nations.
Trump added that India has offered not to buy any more crude oil from Russia and would be putting in an investment of $500 billion to buy American goods.
The deal would help Indian exports reap the benefits of reduced tariffs and lower trade barriers. It would also facilitate faster and easier cross-border trade while providing more confidence to global investors to invest in India.
India US Trade Deal-Industry Reactions
Kumar Mangalam Birla, Chairman of the Aditya Birla Group, remarked that the significant reduction in economic tariffs by the United States would go a long way to strengthen economic and strategic relations between the two countries. Birla added that the US India deal would also open new investment and collaboration avenues.
The Aditya Birla Group Chairman added that the India US trade deal would help in unlocking manufacturing opportunities, building more resilient supply chains and enhancing long-term competitiveness in economic terms for both nations.
Anish Shah, Group CEO and Managing Director of the Mahindra Group, remarked that the India US trade deal would help in boosting growth momentum while also enhancing the predictability that businesses require to invest with confidence.
Sudarshan Venu, Chairman of TVS Motor Company, hailed the trade deal. Venu commented that the deal would improve competitiveness, accelerate technology collaboration and deepen supply chain integration.
Prime Minister Narendra Modi had remarked that India welcomes the reduction on tariffs from 25 percent to 18 percent on all products “Made in India”. Modi also thanked the US President and the India US trade deal would strengthen cooperation between two of the world’s largest democracies.
Markets Go Wild!
On Tuesday, The Nifty 50 stock index closed 2.5 percent higher. The Indian rupee strengthened 1 percent, banking indices closed higher by 2.4 percent, information technology indices closed higher by 1.4 percent.
