India-US trade deal "sets stage for deeper trade, investment, shared prosperity": Nitin Gadkari

New Delhi [India], February 3 (ANI): Union Minister Nitin Gadkari on Tuesday lauded Prime minister Narendra Modi and US President Donald Trump over the announcement of the India-United States trade deal under which Washington has reduced tariffs on Indian goods to 18 per cent, stating that it will further strengthen the trust between both countries and will significantly boost confidence in business, trade, and investment.
Taking it to X, Gadkari stated that the agreement opens new avenues for growth and cooperation between the two countries.
"Today marks a defining step forward in India-US economic relations as the trade deal is finalised with tariffs reduced to 18%, opening new avenues for growth and cooperation. My heartfelt congratulations to PM Narendra Modi and President Donald Trump for their leadership in securing this historic outcome. The agreement strengthens trust, boosts business confidence, and sets the stage for deeper trade, investment, and shared prosperity for both nations," he wrote.
Earlier, US President Trump announced a trade deal with India on Monday (local time), months after Washington imposed 50 per cent tariffs on Indian goods in August 2025. Unveiled on Trump's social media platform Truth Social, the deal outlines significant tariff cuts and includes claims that India would halt Russian oil purchases. Earlier, Trump had levied a 50 per cent duty on India, with 25 per cent tied to crude imports from Russia, as administration officials asserted that India's oil buying supported Russia's war efforts.
Trump, in his Truth Social post, wrote, "Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprorocal Tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO. The Prime Minister also committed to 'BUY AMERICAN,' at a much higher level, in addition to over $500 BILLION DOLLARS of US Energy, Technology, Agricultural, Coal, and many other products."
"Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most. Thank you for your attention to this matter!" Trump said.
Following Trump's post, Prime Minister Modi, on X, said it was wonderful to speak with his "dear friend President Trump" and expressed delight that "Made in India products will now have a reduced tariff of 18%".
"Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement," PM Modi wrote in a post on X. (ANI)