Industry Leaders Hail Historic India-US Trade Deal

2026-02-02 01:30:38

(MENAFN- IANS) New Delhi, Feb 2 (IANS) Industry leaders on Monday hailed the India-US trade deal as announced by President Donald Trump, saying that India has emerged on top of the stack in this "uncertain geopolitical geometry".

As part of the trade deal, the United States will drop a 25 per cent tariff linked to Russian oil purchases as part of India's agreement to stop buying crude from Russia. In a detailed post on Truth Social, Trump said the agreement would immediately reduce the U. reciprocal tariff on Indian goods from 25 per cent to 18 per cent, calling it a major shift in bilateral trade ties linked to energy cooperation and broader geopolitical goals.

“First the Mother of all deals with EU, now the Father of all deals with US - great achievement by PM Modi government! Patience pays,” Harsh Goenka, Chairman, RPG Enterprises, posted on X.

Kunal Bahl, entrepreneur and former CEO of Snapdeal, posted that“We have deals with most of the large economies while our own economy is also structurally on a solid foundation and growth path. Incredible leadership by PM Modi”.

PM Modi said that 'Made in India' products will now have a reduced tariff of 18 per cent, as US President Donald Trump said India and the United States had reached a trade deal.

He posted on X that it was“wonderful to speak with my dear friend President Trump today”.

“Delighted that 'Made in India' products will now have a reduced tariff of 18 per cent. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” Prime Minister posted.

“When two large economies and the world's largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation. President Trump's leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace,” PM Modi further stated.

He said he looks forward to working closely with Trump to“take our partnership to unprecedented heights”

-IANS

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