Industrialists say India-US deal to unlock new investment and manufacturing opportunities

New Delhi [India], February 3 (ANI): The industrialists in the country have welcomed the announcement of the India-US trade deal, stating that the agreement will strengthen strategic and economic ties between the two countries while opening up additional opportunities for investment and collaboration.
Reacting to the development, Kumar Mangalam Birla, Chairman of Aditya Birla Group, said the reduced tariffs would help deepen bilateral economic engagement and support long-term growth for both nations.
In a social media post, Birla applauded Prime Minister Narendra Modi and US President Donald Trump for the trade announcement.
He said "The reduced tariffs will help strengthen the strategic and economic ties between our two great countries and provide additional opportunity for investment and collaboration".
Birla noted that the Aditya Birla Group is the largest Indian investor in the US and said the agreement would help shape more resilient supply chains, unlock manufacturing opportunities, and drive long-term economic competitiveness in both countries.
He further stated that the group remains committed to expanding its presence and investments in the US, where it sees substantial opportunities for innovation, growth, and enduring partnerships.
Welcoming the deal, Anand Mahindra, Chairman of the Mahindra Group, also reacted positively to the development.
In his comments, Mahindra described the agreement as further evidence of the benefits of "making haste slowly." He added that when the noise subsides, two natural partners--India and the United States--will come together.
The India-US trade deal was agreed upon on 2ND February after successful talks between the leadership of both countries. Following the announcement by US President Donald Trump and Prime Minister Narendra Modi on February 2, the reciprocal tariff imposed by the US on India was reduced to 18 per cent from 25 per cent.
In addition, the US removed the additional 25 per cent punitive levy that had been linked to India's purchase of Russian oil. The move is expected to ease trade pressures and improve the overall business environment between the two countries.
Sudarshan Venu, Chairman, TVS Motor Company said that "TVS Motor Company welcomes the India - US trade deal announced following the conversation between PM Modi and President Trump. Equally important is the intent on both sides to progressively lower tariffs and non-tariff barriers, which can deepen supply-chain integration, enable faster technology collaboration, and attract investment into advanced manufacturing".
He added "India has now secured several strategic trade deals with key economic partners around the world. In a challenging global environment, predictability and openness in trade help Indian industry scale, innovate and create jobs".
The announcement has been seen as a positive step by industry leaders, with expectations that the agreement will boost investor confidence, enhance manufacturing cooperation, and further strengthen India-US economic relations. (ANI)