Textiles and Jewellery traders have welcomed the India-US trade deal, expressing enthusiasm over the reduced tariffs, predicting that a tariff of 18 per cent will increase sales by 100 per cent to 150 per cent.
Kwatra said that the talks between US President Donald Trump and Prime Minister Narendra Modi herald an exciting new phase in the partnership between both nations.
The Lower House of the Parliament on Tuesday was adjourned till 12 noon following continuous sloganeering by the Opposition MPs during the Question Hour.
Union Minister for Communications and Development of the North Eastern Region, Jyotiraditya M. Scindia, welcomed the landmark India-US trade deal, asserting that the agreement signals the unity of the world's two largest democracies to foster a 'stronger, more peaceful global order.
Sachdev, in conversation with ANI, said that the deal is a good news for Indian economy as it provides predictability and stability for US-India trade.
Yadav alleged that opening Indian markets to American agricultural products was a "betrayal" of nearly 70 per cent of the country's population that depends on farming for its livelihood.
Former MoS MEA MJ Akbar called the India-US trade deal the "first child" of the India-EU "mother of all trade deals." He praised PM Modi's cooperative nationalism for sidelining US tariff pressure, predicting stable, promising India-US ties ahead.
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.
Shiv Sena (UBT) MP Priyanka Chaturvedi on Tuesday flagged concerns over the India-US trade deal as Washington claimed that the agreement will help them export more agricultural products to New Delhi and that India will stop purchasing oil from Russia.
Industry bodies welcomed India-US trade deal, reacting to the deal, Confederation of Indian Industry (CII) President Rajiv Memani said that the expected reduction of tariffs marks a major step forward in strengthening the strategic economic partnership between the two countries.
Congress MP KC Venugopal on Tuesday gave an Adjournment Motion notice in Lok Sabha to discuss the India-US trade agreement, claiming "adverse consequences" for Indian industries and farmers.
During his US visit for the Critical Minerals Ministerial, EAM Jaishankar welcomed the India-US trade deal that cuts tariffs on Indian goods to 18%. PM Modi and President Trump agreed to boost bilateral trade, increase US purchases, diversify from Russian oil, and strengthen ties.