The United States and India announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, reaffirming their commitment to a broader Bilateral Trade Agreement (BTA) launched by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025.
Speaking to ANI, Sachdev said that India intended to increase imports, which could impact local pricing and production, and that tariff reductions on American produce would mean more competition for domestic growers but more variety for Indian consumers.
"The Interim Trade Agreement entered into by India and the US gives another boost to India's roaring growth engine. Translating PM Shri @narendramodi Ji's vision of a Viksit Bharat into an inevitable reality, the agreement makes way for a boom for Make in India, hardworking farmers, entre
Congress leader Supriya Shrinate on Saturday launched an attack on Prime Minister Narendra Modi over the interim India-US trade agreement, claiming that the latter has "played to the tunes of President Trump", which resulted in a "detrimental" deal for India's interest.
Speaking to ANI, Sachdev said the US decision to reduce duties from a peak of 50% to 18% has removed a major irritant in bilateral ties, which had strained relations since April's Liberation Day announcement by US President Donald Trump. India had initially faced a 25% reciprocal tariff, fol
In a telephonic interview with ANI, Chidambaram responded to questions on the government's claims regarding the deal, and said, "what has been announced is neither a bilateral trade agreement nor an interim agreement, but merely a framework for a possible interim agreement in the future."
Highlighting India's rising global economic stature, citing the country's trade deals with major partners, Prime Minister Narendra Modi on Saturday said that trust has become India's "strongest currency" in the global landscape.
"Under the leadership of PM Narendra Modi, this is a landmark deal between India and the US. This is a historic deal. The 50 per cent tariff has been cut down to 18 per cent. Trade will thrive, industries of people will thrive, and employment opportunities will increase," he said.
Union Minister Ramdas Athawale on Saturday welcomed the India-US interim trade agreement, saying the framework would strengthen bilateral trade ties and benefit key sectors, including agriculture, while dismissing concerns being raised about its impact on farmers.
While responding to a question by ANI on the India-US trade deal at a press conference, Setty said, "It's not only the India-US deal, but also other trade deals, whether it is with the EU or the FTA with the UK in the past, all these are extremely positive for the Indian economy."
Speaking to reporters, Chaturvedi said the deal appeared uneven, noting differences in tariffs: the US will cut tariffs on Indian goods to 18%, while India will eliminate or reduce tariffs on US industrial and agricultural products.
Khera contrasted current leadership with past leaders who stood firm with US counterparts, implying a loss of assertiveness and invoked the names of former US Presidents Nixon, Bush, and Obama, suggesting that previous Indian governments dealt with global superpowers as equals.