New Delhi: External Affairs Minister S Jaishankar on Tuesday welcomed the newly concluded India and United States trade agreement, stating that it would accelerate economic growth in both nations and give fresh momentum to the Make in India programme. He said the understanding between the two countries would expand opportunities for businesses, promote innovation and create a stronger foundation for strategic cooperation.
The agreement provides for the United States to reduce reciprocal tariffs on Indian goods from twenty five percent to eighteen percent. The decision followed discussions between the leadership of the two countries and has been described as a major step toward easing long standing trade barriers. Jaishankar noted that the announcements on bilateral trade were encouraging and reflected the vast potential of economic engagement between the two large democracies.
The minister explained that closer commercial ties would generate employment and encourage the development of reliable technology links. He added that a robust economic relationship was the strongest pillar of the broader partnership between India and the United States. According to him, both sides were confident of realising the wide range of opportunities opened by the new arrangement.
Prime Minister Narendra Modi also expressed satisfaction over the reduction in duties on Made in India products. He described the development as beneficial for the people of both nations and said cooperation between the two economies would unlock mutually rewarding possibilities. The Prime Minister emphasised that joint efforts by major democracies contributed to global stability and prosperity.
The United States leadership announced that India would also move toward lowering tariffs and non tariff barriers on American products. The plan includes greater purchases of goods from sectors such as energy, technology, agriculture and coal. Officials said the new tariff level places India in a better position compared with several competing export economies, where American duties remain higher.
Government representatives believe the agreement will help Indian industry expand its footprint in the American market and strengthen manufacturing at home. The focus on technology collaboration and increased trade is expected to support farmers, entrepreneurs and small businesses across the country. The understanding is being viewed as a long term platform for deeper economic and strategic engagement between the two partners.
