India-US trade deal LIVE: 'Small businesses will be able to sell goods in United States,' says Piyush Goyal

Piyush Goyal said the trade deal between India and the US will provide several opportunities to businesses in India and boost the economy.  

Commerce Minister Piyush Goyal rebuked Rahul Gandhi, asserting that the latter has nothing to do with the development of the country. He said the LoP was a "symbol of negativity".

Commerce Minister Piyush Goyal on Tuesday hailed PM Modi for an effective and historic trade deal between India and US. He said the deal will have good results for India and it is not going to harm farmers in any way. 

LoP Rahul Gandhi said, "Modi ji is rattled. The (US-India) trade deal, which was stalled for the past few months, was signed by Narendra Modi last night. There is extreme pressure on him. Narendra Modi ji's image can get damaged. The main thing is that our PM is compromised. The public needs to think about this. For the first time, the LoP was not allowed to speak on the President's speech. Narendra Modi ji has sold your hard work in this trade deal because he is compromised. He has sold the country. Narendra Modi ji is scared because those who shaped his image are now breaking this image....There is a case on Adani ji in the US, it is actually a case on Modi ji....The Epstein Files contain even more that the US has not yet released. There is pressure due to that as well. These are the two pressure points. The country should understand this."

On India-US Trade Agreement, DMK MP Kanimozhi said, "There is no clarity. Everything has been announced by the US President. We don't know what is actually in it. We would like to know if the farmers of this country have been protected. What is this deal about. Parliament is in session but there is no statement in the House by the Govt. This is very confusing..."

BJP MP Ravi Shankar Prasad said, "This is a historic day. India has emerged as a rising star in the global economy. We have signed a trade deal with the US now, tariff has also been brought down. Before this, deals were signed with New Zealand, Australia, UAE and all EU nations. So, what does this show? Under the leadership of PM Modi, India is becoming a global economic power. The world wants to connect with India and have economic ties with India."

"It is a deal to protect Gautam Adani and we will continue to fight against it," said Shiv Sena (UBT) MP Sanjay Raut on the India-US trade pact.

Union Minister Chirag Paswan said, "India is not just a market. But at the same time, India has the capability to emerge as a global manufacturing hub...How MPs can promote different verticals in export sector and how this opportunity can be availed were all discussed (in the NDA Parliamentary Party meeting)."

"Who is suppressing the opposition's voice? Yesterday, the Lok Sabha Speaker repeatedly urged that the issue be discussed in accordance with the rules. Did the LoP have no other topic besides that? This shows that the opposition has nothing but disruption. Your MPs want to ask questions, the government is ready to answer. You don't even want to let Question Hour proceed."

On India-US Trade Agreement, Congress MP KC Venugopal said, "One of the shocking incidents happened yesterday. The trade deal between India and US was unilaterally announced by the US President. It had never happened in the history of India-US Trade relations."

AAP MP Sanjay Singh said, "By opening us to the US Market in the agriculture sector, Narendra Modi has backstabbed the farmers of India. This Agreement is a betrayal to the crores of farmers in India. The US President is saying that now India will not purchase oil from Russia. So, people of India will have to purchase expensive oil from the US. This is a double blow to the people of India. This is a betrayal to the people of India. If the products from outside are sold cheaply here, Indian farmers will be destroyed. PM Narendra Modi's govt has betrayed the crores of farmers..."

Union Minister Piyush Goyal offered prayers at Siddhivinayak Temple after the trade deal was successful.

Members of several opposition parties on Tuesday staged a walkout from the Rajya Sabha while raising the issue of the Indo-US trade deal and demanding a discussion on it. As opposition members started protesting in the house, Leader of the House J P Nadda said the US President was informed about the reduction in tariffs on Indian goods through a post on social media and also spoke to Prime Minister Narendra Modi. Nadda alleged that the Opposition's frustration was coming out, and it had started seeing bad even in good things.

Opposition MPs protest over the India-US Trade Agreement, raising objections to the reduction in import duties on American agricultural products entering India to zero. Visuals from the Parliament premises.

On the India-US trade agreement, Congress MP Shashi Tharoor said," I want to know what it contains. The Opposition is only asking for clarity. We don't know what the deal contains. We have Mr Trump's tweet and Mr Modi's tweet; is that enough in a parliamentary democracy? Shouldn't the Govt of India come and explain to the people of the country what's in the deal? Mr Trump says it's for agriculture, so what are the protections for Indian farmers? Mr Trump says USD 500 billion, our entire import bill is USD 700 billion, so do we stop buying from every other country? We would love to celebrate if it's good news, but give us clarity..."

 Samajwadi Party MP Dimple Yadav on India-US trade deal, said, "18 per cent tariff imposed by the US raises questions. The announcement was not made by Government of India. It was done by the US President. The attitude of the United States shows that our Foreign Ministry has been unable to deal with them as required."

Responding to the Opposition MPs raising the India-US trade agreement in Rajya Sabha, Union Minister JP Nadda said, "Late last night, the US President tweeted on tariffs and referred to PM Modi as a true friend. After this, the PM tweeted, thanking the US President and on trade. The government will issue a suo motu statement on this trade deal and also hold a discussion on it. When the government is ready to give a detailed statement, this attitude of Congress and the INDI alliance is wrong. It is their frustration which is speaking."

Commerce Minister Piyush Goyal returning to Delhi, likely to make statement on India-US trade deal in Parliament on Tuesday, said sources.

Anant Goenka, President, FICCI said, "We thank Prime Minister Narendra Modi and President Donald Trump for the trade deal that marks a significant reset in India–US economic ties. The reduction of reciprocal tariffs on Indian goods to 18 per cent — following months of negotiation by Commerce and Industry Minister and his team — will materially improve the competitiveness of Indian exports in the world’s largest import market. With sectors such as apparel, leather, gems and jewellery and marine products poised to benefit, this agreement has the potential to strengthen business confidence and deepen bilateral economic engagement. If implemented effectively, it can provide a meaningful boost to India’s export growth trajectory, broaden market access, and underscore the strategic importance of sustained cooperation between two of the world’s largest democracies."

Andhra Pradesh Chief Minister N Chandrababu Naidu on Tuesday hailed the US-India trade deal as a historic milestone for global stability. India and the US 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, President Trump said on Monday after a phone conversation with Prime Minister Modi. "A historic milestone for global economic stability! I congratulate PM Narendra Modi ji on concluding this landmark trade agreement with the US," Naidu said in a post on 'X'.

Reducing tariffs to 18 per cent is a visionary move that strengthens the bond between the world's two greatest democracies and ensures continued global growth, he said.

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. Reacting to the development, Kumar Mangalam Birla, Chairman of Aditya Birla Group, said the reduced tariffs would help deepen bilateral economic engagement and support long-term growth for both nations. 

Welcoming the deal, Anand Mahindra, Chairman of the Mahindra Group, also reacted positively to the development. In his comments, Mahindra described the agreement as further evidence of the benefits of "making haste slowly." He added that when the noise subsides, two natural partners--India and the United States--will come together.

On US reducing tariffs, BJP MP Manoj Tiwari said, "Yesterday, the United States reduced the tariff to 18 percent. This is a very big achievement for India, and it is a victory for every step that India took with patience... This is a major achievement for India, for Indian businesses, and for farmers as well. Today, we express our happiness on this."

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. 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. READ

Union Minister Kiren Rijiju said, "At today's NDA Parliamentary Party meeting, the Bharatiya Janata Party's new president, Nitin Nabin ji, was welcomed. After that, there was discussion about the historic trade deals achieved under the leadership of Prime Minister Modi. Under his leadership, nine trade deals, Free Trade Agreements, have been concluded. The India–EU Free Trade Agreement was signed just a week ago, not even a full week has passed. And then, within a week, the agreements with the United States were announced yesterday, including the announcement of tariff cuts. This created a lot of enthusiasm among the Members of Parliament."

Samajwadi Party MP Ramgopal Yadav, reacting to the announcement of the Indo-US trade deal, said, "America is a very shrewd trader. It will never do anything that goes against its own interests or causes it any loss, so there must definitely be some hidden agenda in this agreement... Everything is secret."

On India-US Trade Agreement, Congress MP Karti Chidambaram said, "I have always said that India needs America and America needs India. Both are large economies and have large populations. America cannot replace the supply chains from India very easily. But President Trump is a very mercurial President. At one stage, he said that the Indian economy is dead. Now he says that he is very happy to do trade with India. At one stage he said that he interceded to stop the war between India and Pakistan...So, we do not know where Trump stands. He has announced that he is reducing the tariff to 18% but what are the conditions for that? He is prohibiting India from buying oil from Russia, from Iran - two longstanding trading partners of India. He is saying that India will buy oil from Venezuela...Are we buying 500 bullion dollars' worth of goods from the US right now? Are we capable of that? Until we have the details of the trade pact, how can we pass judgment? We can't be passing judgment on social media post of President Trump and President Trump is known to be making very impulsive statements..."

On India-US trade agreement, National General Secretary Tarun Chugh said, "Under the historic India-US trade agreement, Indian producers will receive a significant boost in the global market. Lower tariffs of about 18% will create new opportunities for youth, farmers, and MSMEs. A strong India-US partnership will accelerate investment, innovation, and job creation. First, the FTA with European countries and now the India-US trade agreement, this is a major achievement under PM Modi's leadership."

On India-US trade agreement, Shiv Sena (UBT) MP Priyanka Chaturvedi said, "The US-India trade agreement was important. It had been stalled for so long, and India had become the country with the highest tariffs. They've now brought them down to 18%, which I welcome. But the way we have brought tariffs and trade barriers down to zero... we agree to buy Venezuelan oil, stop buying Iranian oil, and stop buying Russian oil. Then, the trade barriers on agricultural goods have been removed from our markets... it is not what the Indians expected... what has come from Trump's side doesn't seem like a win-win situation at all."

The Indian Rice Exporters Federation (IREF) on Tuesday expressed optimism over a proposed reduction in United States import tariffs on Indian goods to 18 per cent, down from the earlier 25 per cent. The federation expects this move to restore price parity with competing nations and significantly boost shipment volumes. According to IREF National President Prem Garg, the revised tariff structure would place India on a par with competitors like Thailand and Pakistan, which currently face duties of approximately 19 per cent. "The move to lower tariffs from the earlier 25 per cent to 18 per cent is a significant victory for price parity. This effectively neutralised the duty disadvantage we faced against competitors like Thailand and Pakistan.

Textile and leather stocks surged as much as 20 per cent on Tuesday morning after India and the US agreed to a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent. Shares of K P R Mill surged 20 per cent, Garware Technical Fibres zoomed 20 per cent, Welspun Living jumped 19.85 per cent, Vardhman Textiles soared 19.60 per cent, Trident jumped 19.52 per cent, Raymond Lifestyle climbed 9.56 per cent and Page Industries climbed 5.31 per cent on the BSE. The 30-share BSE Sensex jumped 1,928.91 points to 83,595.37 in morning trade. The 50-share NSE Nifty traded 587.60 points higher at 25,760.

BJP National President Nitin Nabin was formally welcomed at the NDA Parliamentary party meeting underway in Parliament premises.

Congress on Tuesday demanded the complete details of the India-US trade deal, raising questions over several key aspects such as the opening of the agriculture sector, the reduction of tariffs to "zero" and a pause on the purchase of Russian oil, as claimed by US President Donald Trump. In a post on X, Congress first questioned the manner of the deal announcement, then delved into the details shared by Donald Trump. The party said that reducing tariff and non-tariff barriers against the US to 'zero will "impact" India and also questioned how opening the agriculture sector would ensure the "security of farmers."

"Just like the ceasefire, the announcement of the trade deal was also made by US President Trump. It has been stated that the trade deal is being done 'on Modi's request'," Congress said.

"Trump says that India will move to reduce tariff and non-tariff barriers against the United States to 'zero'. It seems India has agreed to completely open our market for America. This will impact Indian industry, traders and farmers. There is talk of opening the agriculture sector for America in the statement as well. What exactly is the deal? How has the security and interests of our farmers been ensured?" they asked.

BJP MP Baijayant Panda hailed the India-US trade agreement as a historic milestone, calling the breakthrough achieved during Tuesday’s discussions a moment of global significance. He said it goes far beyond a routine trade pact and has the potential to reshape economic engagement between the world's largest democracies. "It is not just a trade deal that will redefine trade between the two largest democracies in the world; it will also have a positive global impact and help stabilise many aspects of trade and geopolitics. I congratulate PM Modi and President Trump on this historic deal," he added. 

Indian equity benchmark indices, the Sensex and Nifty, opened in the green on Tuesday, February 3, 2026, as India and the United States have announced a crucial trade agreement. While the 30-share BSE Sensex surged 3,656.74 points to start the session at 85,323.20, the Nifty gained 1,129.65 points to open at 25,088.40. In the last trading session, the Sensex closed at 81,666.46 and the Nifty 50 at 25,088.40. Meanwhile, gold rebounded on Tuesday in the global market. READ

A day after the India-US trade deal, Prime Minister Narendra Modi said, "Self-confidence is that power with the help of which everything is possible. This very power of the countrymen will prove extremely useful in realizing the dream of a developed India."

BJP national president Nitin Nabin has hailed the India-US trade agreement, saying it would provide new momentum to the Indian economy and give new impetus to the country's goal of attaining a developed status.

Taking to X, Nabin said, "This new progress in India-US relations is commendable. The strengthening of relations between India and the United States, two of the world's most powerful democracies, will have a very positive and far-reaching impact. This decision will provide new momentum to the progress of the Indian economy. It will also give new energy to the Aatmanirbhar Bharat and Make in India initiatives." he said.

"Congratulations to the prime minister. Under his able leadership, new opportunities are opening up for the youth of India," the BJP chief added.

Top American leaders said the trade deal announced by US President Donald Trump with "close partner" India will export more farm products from America to the massive Indian market and the agreement will also help counter Russian aggression. "Congratulations to President Trump for a superb accomplishment on today's trade agreement with India," Senate Foreign Relations Committee Chairman Senator Jim Risch said in a post on X Monday. He said he is "very glad to learn that the world's oldest and largest democracy has agreed to reduce trade barriers with the United States."

Describing India as a "close partner" of the US, with a prominent diaspora in America, Risch said New Delhi is an integral partner in countering China's "malign influence" in the Indo-Pacific.

"Now, under this new agreement India has pledged to buy American. It will also help the US counter Russian aggression and in its work to bring an end to Russia's war against Ukraine by cutting off India's support of the Russian energy sector," Risch said.

US Secretary of Agriculture Brooke Rollins thanked Trump for "once again" delivering for American farmers. "New US-India deal will export more American farm products to India's massive market, lifting prices, and pumping cash into rural America," she said in a post on X.

Noting that in 2024, America's agricultural trade deficit with India was $1.3 billion, she said India's growing population is an "important market" for American agricultural products and the deal will go a long way to reducing this deficit.

"America First victory on top of the dozens of deals for agriculture," she said.

Describing Trump as "Dealmaker in Chief", Secretary of the Department of the Interior and Chairman of the National Energy Dominance Council Doug Burgum said the US President "continues to bring in record investment from U.S. energy purchases. This is energy diplomacy at work, strengthening international relationships and bolstering the US economy!"

Highlighting growing momentum in India's economic alignment with Western partners following the announcement of a bilateral trade agreement, US International Development Finance Corporation Deputy CEO Nisha Biswal noted that the deal could ease tariff tensions and open the door for deeper cooperation between India and the United States. Elaborating on the development, Biswal said, "We heard the announcement from both President Donald Trump and Prime Minister Narendra Modi that they have come to an agreement on the US-India bilateral trade agreement, at least the phase one agreement. Coming on the heels of a very consequential EU-India free trade agreement, this is a big move for India as it seeks to open up its trade frontiers with the EU and the US. There are ongoing discussions with Canada, and earlier this year, we saw the India-UK deal. India is making a bold move to align economically with the West."

Congress MP Manish Tewari on Tuesday questioned whether New Delhi has sacrificed its strategic autonomy to seal the trade deal with Washington, which would require India to divert its oil purchases from Russia to the US and "potentially" to Venezuela. He also questioned the tariff imbalance in the trade deal where India will levy "no tariffs" on US imports, whereas Washington will charge a "reduced" reciprocal tariff of 18 per cent on New Delhi's exports, as per the details shared by US President Donald Trump on X. 

US has reduced tariffs from 25 per cent to 18 per cent. "No purchase of oil from Russia. No tariffs on American imports. American tariffs on Indian exports 18%. India will buy USD 500 billion worth of energy, technology, agriculture & coal. What the hell happened to India's strategic autonomy?" Manish Tewari said in a post on X.

Complete details of the trade deal are yet to be announced.

Senior Advisor at the Center for Strategic and International Studies (CSIS), Richard Rossow lauded the calmness with which India approached the US tariffs and kept its stance that agriculture is a no-go. Rossow, in a conversation with ANI, highlighted how the US wanted to repair the trade deficit with India, and despite warm relations, there was a bit of ruffle. He said, "First, the US wanted India to commit to buying a certain percentage of American goods to help repair the trade deficit, which is currently about two to one in deficit with India. The second thing was agricultural market access. For India, certain staple grains are a no-go... For the US, the question was whether this was a negotiating tactic or a real red line. We will see that staple grains grown in India were likely excluded from the market..."

US President Donald Trump has announced that India and the US 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.  Trump imposed 50 per cent tariffs on Indian goods, including the 25 per cent punitive tariffs for India's procurement of Russian crude oil. India now has a clear advantage over competing export economies in the region, with lower tariff rates compared to competing export economies. Let's look at the current tariffs imposed on various other countries. Here's full list of Trump tariffs on countries: READ

India and the United States finally 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. Here is a month-wise timeline of key events leading up to the trade deal: READ

India-US talks live updates: Finance minister Nirmala Sitharaman hailed the India-US trade deal and said that it was a good news for ‘Made in India’ products. "Good news for #MadeInIndia products. They will now face reduced tariff of 18%. Thanking the leadership of PM @narendramodi and @POTUS for this development," she wrote on X. "People of our two large democracies stand to benefit," she added.

External Affairs Minister S Jaishankar on Tuesday welcomed the India-US trade agreement, saying it will spur growth in both economies and strengthen the country's 'Make in India' endeavours. Jaishankar, who is on a three-day visit to the US to attend a Washington-led ministerial meeting on critical minerals supply chain, said he "welcomed the announcements on bilateral trade". India and the US agreed to a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent, US President Donald Trump said on Monday after a phone conversation with Prime Minister Narendra Modi. In a post on 'X', Jaishankar said, "This will create more jobs, spur growth and promote innovation in both economies. It will strengthen 'Make in India' endeavors and encourage trusted technology ties." "The opportunities in our economic engagement are truly vast and we are confident of realizing them. A robust economic relationship is the strongest foundation for our strategic partnership," the external affairs minister added.

Following the announcement of the India-US trade deal on Monday, in which Washington reduced tariffs on India to 18 per cent, New Delhi now faces lower tariffs than its regional export competitors in South and Southeast Asia.
With the new tariff structure, India now has a clear advantage over competing export economies in the region, with lower tariff rates compared to Indonesia at 19 per cent and Bangladesh and Vietnam with 20 per cent each. Compared to China, India now enjoys significantly lower tariffs, with tariffs levied on Beijing at 34 per cent. India also enjoys a slight edge over Pakistan, with tariffs on Islamabad currently levied at 19 per cent.

Industrialist and Chairman of RPG Enterprises Harsh Goenka hailed the India-US trade deal, where Washington reduced the tariffs on India to 18 per cent, describing it as the "Father of all deals". In a post on X, Harsh Goenka said that this deal was a "great achievement" which came days after the conclusion of the "Mother of all deals" with the European Union, which took place during the state visit of the President of the European Council, Antonio Costa, and the President of the European Commission, Ursula von der Leyen, in India last month. "First the Mother of all deals with EU, now the Father of all deals with US - great achievement by PM Modi government! Patience pays," the Chairman of RPG Enterprises said.

US Senator Lindsey Graham on Monday (local time) claimed that India has "earned" the reduction in tariffs under the newly announced India-US trade deal, linking the move to the decrease in Russian oil purchases by New Delhi amid the ongoing war in Ukraine. In a post on X, Graham praised US President Donald Trump's approach, suggesting that economic pressure on Russia's energy customers is beginning to have an impact, citing the recent trade deal with India in which Washington reduced tariffs on India to 18 per cent. "Well played, President Trump. I think your message about ending this war--by having Putin's customers who prop up his war machine have to recalculate--is working," he said.

EEPC India on Monday welcomed the announcement of a trade deal with the US under which Washington will lower reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent, and said it could significantly boost engineering shipments. "While the detailed contours of the agreement are yet to be made public, the Prime Minister's message clearly mentioned lower tariffs for Made in India products, which is very good news," Shah said, adding that the US remains India's largest trading partner.

US Chamber of Commerce said, "We congratulate the US and Indian governments on their announcement to reduce tariffs and non-tariff barriers that will benefit American and Indian companies and workers in both great nations. We appreciate the efforts of President Trump and Prime Minister Modi, and their officials, including Ambassadors Kwatra and Gor.  We are optimistic that this is the first step toward a comprehensive trade agreement that will unlock even more private sector collaboration, and we look forward to reviewing the details of the deal. The Chamber, our US-India Business Council, and our members are strong champions of this effort, and we look forward to partnering with both governments to implement today's announcement."

Union Minister Ashwini Vaishnaw on Monday said the India-US trade agreement is a win-win deal which will benefit citizens and industries of both countries. Vaishnaw's remarks came soon after US President Donald Trump spoke to Prime Minister Narendra Modi and announced that India and the US have agreed on a trade deal.

Under the agreed deal, Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent. Trump said India will move forward to reduce "tariffs and non-tariff barriers" against the US to zero, adding New Delhi would buy American goods, including energy, worth more than USD 500 billion.

In a post on X, Vaishnaw, the Union minister for information and broadcasting, said, "Trade deal between the US and India will lead to a brighter future for both countries. India-US trade deal is a win-win deal. Citizens and industries of both countries will benefit greatly from this deal." 

Terming the US and India as the world's largest democracies and natural allies, the minister said, "Together, India and the US have huge potential to work for peace and development."  "The US and India have complementary strengths. Both countries can co-create technologies and co-develop solutions that will benefit the world," Vaishnaw added.

Commerce and Industry Minister Piyush Goyal has said that the India-US trade deal unlocks unprecedented opportunities for farmers, MSMEs, entrepreneurs, and skilled workers to Make in India for the world and that it is a historic turning point that will reshape India-US relations. In a post on X, Goyal also said that the trade deal will help India get technology from the United States and accelerate India's journey towards Viksit Bharat 2047. He lauded Prime Minister Narendra Modi and US President Donald Trump for the trade deal.

US Ambassador to India Sergio Gor on Monday welcomed US President Donald Trump's claims regarding a trade deal with India, where Washington reduced the reciprocal tariff from 25 per cent to 18 per cent. In a post on X, following Trump's claims of a trade deal with New Delhi announced in a post on Truth Social, the US Ambassador said that the bilateral relationship between the two nations has "limitless potential".

Gor further said that Trump shares a close personal rapport with Prime Minister Narendra Modi, noting that the US President "genuinely considers" the Prime Minister a "great friend". "As I have said many times, President Trump genuinely considers Prime Minister Modi a great friend! Thrilled by the news of the trade deal this evening. The relationship between the United States and India has LIMITLESS POTENTIAL!" Gor wrote in his post.

Following the announcement of the India-US trade deal, where the US reduced the tariffs on India to 18 per cent, a White House official on Monday (local time) confirmed to news agency ANI 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 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." 

Parliamentary Affairs Minister Kiren Rijiju on Tuesday welcomed the announcement of the India-US trade deal, calling the two countries natural partners and "the world's truest democracies". He also praised Prime Minister Narendra Modi's leadership for strengthening India's global engagement. In a post on X, Rijiju said, "India and the US, the world's truest democracies, are natural partners with shared values and global responsibility. Together, we have the potential to advance peace, development, and innovation. Under the leadership of PM @narendramodi ji, India's global engagement continues to grow stronger. The India-US trade partnership reflects mutual trust and opportunity--benefiting citizens, farmers, youth, and industries in both countries."

Maharashtra Chief Minister Devendra Fadnavis lauded the announcement of the India-US trade agreement, referring to it as "a new chapter of friendship" between the two nations. He added that it would help Maharashtra by providing access to significant investments in cutting-edge technologies, such as artificial intelligence. 

"A New Chapter of Friendship! The historic trade agreement between India and the United States is truly a victory of the friendship between Hon. Prime Minister Narendra Modi ji and the President of the United States, Donald Trump. This is also an extremely important moment for global trade. India will now receive preferential tariff rates from the United States among the world's major exporting economies. This marks the beginning of a new era in India-US friendship," said Fadnavis.

Defence Minister Rajnath Singh lauded the India-US trade deal, in which Washington reduced tariffs on India to 18 per cent, describing it as a "landmark moment" that will take bilateral economic ties between the two nations to "new heights". In a post on X, the Defence Minister highlighted the deal as a major milestone in India-US relations, promoting stronger links and strategic collaboration. He also congratulated Prime Minister Narendra Modi and US President Donald Trump on the agreement.

"A landmark moment for India-US relations as a historic trade deal has been finalised, bringing tariffs down to a significantly lower 18% and opening a new chapter of deeper and greater economic cooperation. I congratulate Prime Minister Narendra Modi and US President Donald Trump on reaching this decisive agreement, which will significantly strengthen our strategic partnership and deliver tangible benefits to both the countries and their people. With this agreement, India-US economic ties are set to reach new heights," the Union Minister said in a post on X.

Following the announcement of the US-India trade deal, in which Washington reduced the tariffs on India to 18 per cent, South Asia analyst Michael Kugelman said that the agreement marks the "biggest victory" in bilateral relations between the two countries in nearly a year. He described the deal as a significant confidence-building measure after months of strained ties. Speaking to ANI following the announcement, Kugelman said the agreement had been a long time coming, recalling that nearly a year had passed since US President Donald Trump hosted Prime Minister Narendra Modi at the White House and both leaders committed to pursuing a trade deal, adding that the relationship had faced multiple tensions in the months that followed.

"My main reaction is it's been a long time coming. It's been almost a year since President Trump hosted Prime Minister Modi at the White House and they promised to pursue a trade deal. And of course, their relationship went sideways; it faced many tensions in the months that followed, and it became increasingly clear that it would be very difficult to get a trade deal, especially because many rounds of talks failed to yield positive outcomes," the analyst said.

India has lower tariff compared to competing export economies

• India: 18%
• Indonesia: 19%
• Vietnam: 20% 
• Bangladesh: 20%
• China: 34%

(Input: Devendra Parashar) 

Describing the India Gate in New Delhi as "India's beautiful Triumphal Arch", US President Donald Trump said a similar monument in America will be "the greatest of them all." "India's beautiful Triumphal Arch. Ours will be the greatest of them all!" Trump said in a post on Truth Social, posting a photograph of the iconic Indian monument. The 42 metre high India Gate, an "Arc-de-Triomphe", honours the memory of the 70,000 Indian soldiers who were killed fighting for the British Army during World War I and the Third Anglo-Afghan War.

Union Home Minister Amit Shah on Monday said the trade deal between the US and India will elevate strategic partnership between the two countries, paving the way for stronger trade ties and mutual growth.

In a post on X, Shah said the deal will greatly benefit both nations and their people with business between India and US set to flourish further. "A big day for India-US relations as the trade deal has been locked with a significantly reduced tariff of 18 per cent, paving the way for stronger trade ties and mutual growth," he said.

Congratulating Prime Minister Narendra Modi and US President Donald Trump for the "historic deal", Shah said it will "elevate our strategic partnership and greatly benefit both nations and their people. Business between India and US set to flourish further."

Prime Minister Narendra Modi on Monday thanked US President Donald Trump after he announced that Washington has decided to reduce tariffs on New Delhi from 25 per cent to 18 per cent. He said Trump's leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace, said the prime minister in an X post, adding that he is looking forward to working closely with him to take the India-US partnership to unprecedented heights.

"Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. 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.I look forward to working closely with him to take our partnership to unprecedented heights," PM Modi said.

India and the United States (US) have agreed to a trade deal, announced President Donald Trump on Monday following a telephonic conversation with Prime Minister Narendra Modi. Calling PM Modi one of his 'greatest friends', the 79-year-old Republic president also announced that he has decided to lower tariffs from 25 per cent to 18 per cent.  

In a post on Truth Social, Trump claimed that PM Modi has agreed that India will stop procuring Russian oil. The entire West has been critical of India for buying Russian crude. Besides, he further said that India will start more oil from the US and also from Venezuela. 

"It was an honour to speak with Prime Minister Modi... We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela," he said, adding that this will help in stopping Ukraine war that has claimed thousands of lives.

The US president said he reduced the tariffs to 18 per cent out of his "respect and friendship" for PM Modi. In his post, Trump also said India has decided to reduce tariffs and non-tariff barriers against the US to zero, adding that the two leaders "get things done, something that cannot be said for most."

US President Donald Trump spoke with Prime Minister Modi on Monday, US Ambassador to India Sergio Gor said. "President Trump just spoke with Prime Minister Modi. STAY TUNED...," Sergio Gor said in a post on X.

The talks between India and the United States for the Bilateral Trade Agreement have made significant progress, and there are expectations of the deal being finalized soon. PM Modi had spoken with President Trump in December last year and the two leaders had agreed to work closely to address shared challenges and advance common interests.