Reflects growing trust: PM on US trade deal, thanks Trump for personal commitment
India and the US unveiled an interim trade agreement, cutting American tariffs to 18 per cent as New Delhi agreed to lower duties and expand tech trade.
Prime Minister Narendra Modi on Saturday welcomed the India-US interim trade framework, calling it a major boost for bilateral ties and a step that will open new opportunities for Indian workers, farmers and businesses.
Reacting to the announcement, PM Modi said the two countries had agreed on a structure for an Interim Trade Agreement and thanked United States President Donald Trump for his "personal commitment to robust ties" between New Delhi and Washington.
"Great news for India and USA! We have agreed on a framework for an Interim Trade Agreement between our two great nations. I thank President Trump for his personal commitment to robust ties between our countries," PM Modi said in a post on X.
"This framework reflects the growing depth, trust and dynamism of our partnership. It strengthens 'Make in India' by opening new opportunities for India's hardworking farmers, entrepreneurs, MSMEs, StartUp innovators, fishermen and more. It will generate large-scale employment for women and youngsters," he added.
The Prime Minister's remarks came hours after an interim trade agreement between India and the United States was announced on Friday, marking a breakthrough after months of slow negotiations and tariff-related friction between the two sides.
The move signals renewed momentum toward a full-scale Bilateral Trade Agreement (BTA) between New Delhi and Washington.
PM Modi said that the arrangement would help build resilient and trusted supply chains and contribute to global growth, underlining that India remains focused on future-oriented global partnerships as it moves toward building a 'Viksit Bharat'.
INDIA-US INTERIM TRADE DEAL
In a joint statement, both countries said that they would "promptly implement this framework" and begin work on finalising the interim pact with the larger objective of concluding a mutually beneficial Bilateral Trade Agreement (BTA).
In exchange, India has agreed to open its market further to US products. New Delhi will cut or eliminate duties on a large basket of American industrial and agricultural goods. These include animal feed such as dried distillers' grains and red sorghum, tree nuts, fresh and processed fruits, soybean oil, along with wine and spirits.
Washington, for its part, will remove tariffs on several Indian exports once the pact is finalised. Products expected to benefit will include generic pharmaceuticals, gems and diamonds, and aircraft components, providing relief to key Indian manufacturing and export sectors.
Prime Minister Narendra Modi on Saturday welcomed the India-US interim trade framework, calling it a major boost for bilateral ties and a step that will open new opportunities for Indian workers, farmers and businesses.
Reacting to the announcement, PM Modi said the two countries had agreed on a structure for an Interim Trade Agreement and thanked United States President Donald Trump for his "personal commitment to robust ties" between New Delhi and Washington.
"Great news for India and USA! We have agreed on a framework for an Interim Trade Agreement between our two great nations. I thank President Trump for his personal commitment to robust ties between our countries," PM Modi said in a post on X.
"This framework reflects the growing depth, trust and dynamism of our partnership. It strengthens 'Make in India' by opening new opportunities for India's hardworking farmers, entrepreneurs, MSMEs, StartUp innovators, fishermen and more. It will generate large-scale employment for women and youngsters," he added.
The Prime Minister's remarks came hours after an interim trade agreement between India and the United States was announced on Friday, marking a breakthrough after months of slow negotiations and tariff-related friction between the two sides.
The move signals renewed momentum toward a full-scale Bilateral Trade Agreement (BTA) between New Delhi and Washington.
PM Modi said that the arrangement would help build resilient and trusted supply chains and contribute to global growth, underlining that India remains focused on future-oriented global partnerships as it moves toward building a 'Viksit Bharat'.
INDIA-US INTERIM TRADE DEAL
In a joint statement, both countries said that they would "promptly implement this framework" and begin work on finalising the interim pact with the larger objective of concluding a mutually beneficial Bilateral Trade Agreement (BTA).
In exchange, India has agreed to open its market further to US products. New Delhi will cut or eliminate duties on a large basket of American industrial and agricultural goods. These include animal feed such as dried distillers' grains and red sorghum, tree nuts, fresh and processed fruits, soybean oil, along with wine and spirits.
Washington, for its part, will remove tariffs on several Indian exports once the pact is finalised. Products expected to benefit will include generic pharmaceuticals, gems and diamonds, and aircraft components, providing relief to key Indian manufacturing and export sectors.