New Delhi, Feb 2: Prime Minister Narendra Modi and United States President Donald Trump have announced a major trade deal between India and the United States, under which the reciprocal tariff on Indian goods will be reduced from 25 per cent to 18 per cent, a development that marks a significant shift in bilateral trade relations.
In a post on X, as per news agency Kashmir News Corner — KNC, Prime Minister Modi said he had a “wonderful” conversation with President Trump and welcomed the tariff reduction for “Made in India” products, expressing gratitude to Trump “on behalf of the 1.4 billion people of India” for the announcement.
He emphasised that cooperation between two large economies and the world’s largest democracies benefits their peoples and unlocks opportunities for mutual partnership.
PM Modi also highlighted India’s support for global peace and his intention to work closely with President Trump to take the partnership to “unprecedented heights.”
Earlier, President Trump posted on Truth Social that his discussion with Modi covered trade and geopolitical issues, including the Ukraine conflict. Trump said India agreed to halt purchases of Russian oil and ramp up energy imports from the United States and potentially Venezuela, as part of efforts to help end the ongoing war in Ukraine.
He described the trade agreement reached with India as a result of friendship and respect, with the United States lowering tariffs on Indian goods to 18 per cent and India agreeing to reduce tariffs and non-tariff barriers on U.S. imports.
Trump also claimed that India committed to significant purchases of U.S. products across energy, technology, agriculture and other sectors.
The trade deal comes amid broader shifts in global economic cooperation, with both nations aiming to deepen strategic and economic ties. (KNC)
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