Prime Minister Narendra Modi on Tuesday described the India-US trade deal as the "biggest event of the century", asserting that it reflects India's rising stature and growing influence on the global stage. Notably, India and the US have agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent.
'Biggest event of this century': PM Modi
Addressing the NDA parliamentary party meeting, the Prime Minister said India is fast emerging as a central player in world affairs, and its role in maintaining global balance is becoming increasingly crucial. "The biggest event of this century is India becoming a decisive force on the world stage," he told NDA MPs.
PM Modi also made a lighthearted remark, quipping that "some people were devastated" by US President Donald Trump's decision. His comment drew laughter from party members, even as he underlined the strategic importance of the deal for India's economy and exports.
Referring to domestic politics, the Prime Minister cited the BJP's recent performance in local body elections in Kerala and took a swipe at the opposition. He recalled an incident where a BJP MP addressed a gathering with an artificial leg after undergoing amputation, calling it "a sin against democracy" and an example of the hardships faced by party workers.
PM Modi felicitated at NDA Parliamentary Party meeting
NDA MPs also felicitated Prime Minister Narendra Modi at the Parliamentary Party meeting for the trade deal with the United States. This comes after Trump said that the US and India "have agreed to a trade deal," with Washington reducing the reciprocal tariff from 25 per cent to 18 per cent, "out of friendship and respect" for PM Modi.
India-US trade deal
India and the United States concluded a landmark trade agreement on Monday, bringing an end to a heated tariff dispute that stretched across a full year. On Monday, US President Donald Trump announced an immediate reduction in reciprocal tariffs on Indian exports to 18% from the previous 25% offering long-awaited relief to Indian exporters. The breakthrough was confirmed following a phone conversation between Trump and Prime Minister Narendra Modi, signalling a major reset in bilateral trade relations after months of tense exchanges.
Meanwhile, a White House official on Monday (local time) also confirmed that Washington will also drop the additional 25 per cent tariff on Indian imports imposed due to New Delhi's purchase of Russian oil. The White House official noted that India has to "cease, not just reduce, Russian oil purchases."
When asked by ANI whether the tariffs on Indian imports would be lifted in exchange for reducing Russian oil purchases, the official said, "Yes, although the agreement is that India will cease, not just reduce, Russian oil purchases."
Also Read: India-US trade deal: How 18% US tariffs give India advantage over China, Pakistan and Bangladesh?
Also Read: White House confirms it will drop additional 25% on Indian imports over Russian oil purchases
