The reduction in the US import duties, along with forthcoming duty-free trade agreements with the United Kingdom and European countries, will drive remarkable growth in the Indian textile industry. As a result, employment opportunities in the textile sector will multiply significantly.
At the time of closing, Sensex was at 83,739.75, up by 2072 points or 2.5 per cent, while Nifty was at 25,727, up by 639 points or 2.5 per cent. In terms of sectors, all the major indices traded in the green.
He said the decision by the US administration to lower tariffs on Made in India goods reflects the strong leadership and effective diplomacy of Prime Minister Narendra Modi.
In its report titled "India: US-India conclude trade deal: President Trump lowers 'reciprocal' tariffs on India to 18%", Goldman Sachs noted that President Trump announced on social media a reduction in the reciprocal tariffs on Indian goods imports to 18% down from the earlier 25%, 'effecti
Dravida Munnetra Kazhagam (DMK) MP Kanimozhi Karunanidhi on Tuesday said that there has been no clarity from the government on the India-US trade agreement, demanding to know if the farmers are protected within the agreement.
The India-US trade deal reduces tariffs on Indian goods in the US to 18 per cent, while Washington has claimed the deal will help it export more agricultural products to New Delhi.
Congress MP Pramod Tiwari on Tuesday took a swipe at Prime Minister Narendra Modi, saying that all the decisions made by India are being announced by US President Donald Trump instead of PM Modi himself, underlining that it affects the self-respect of the country.
Prime Minister Narendra Modi on Tuesday addressed the NDA MPs at the NDA Parliamentary Party Meeting, saying that the Union Budget 2026 has been prepared keeping the next 25 years in mind. He urged the MPs to explain this to the general public for their better understanding
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.
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.
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.