Historic India-US Trade Deal: A New Era of Economic Partnership
A new trade deal between India and the US, announced by Union Home Minister Amit Shah, is set to boost bilateral trade with reduced tariffs. The agreement promises stronger economic ties and strategic partnership, fostering mutual growth and cooperation between the two largest democracies.
- Country:
- India
The Union Home Minister, Amit Shah, announced a landmark trade agreement between India and the United States on Monday. The deal, featuring reduced tariffs, is anticipated to bolster the strategic partnership and economic collaboration between the two nations.
Celebrations erupted as Prime Minister Narendra Modi expressed gratitude to US President Donald Trump, hailing the agreement as a significant milestone for 'Made in India' products. The agreement will lower reciprocal US tariffs on Indian goods to 18 percent from 25 percent.
This historic accord is expected to invigorate trade, with India's commitment to further reduce trade barriers and prioritize US imports, potentially exceeding USD 500 billion. The Modi-Trump conversation also touched on global issues, emphasizing cooperation beyond economic interests.
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