The reduction of reciprocal tariffs on Indian goods to 18 per cent will materially improve the competitiveness of Indian exports in the world’s largest import market.
FICCI President Anant Goenka hails India–US trade deal
New Delhi: The Industry Association 'The Federation of Indian Chambers of Commerce & Industry' (FICCI) has hailed the announcement on Monday of trade deal between India and the US.
FICCI President Anant Goenka said this trade deal marks a significant reset in India–US economic ties. He said that the reduction of reciprocal tariffs on Indian goods to 18 per cent will materially improve the competitiveness of Indian exports in the world’s largest import market.
Anant Goenka: To improve the competitiveness of exports
“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," said Anant Goenka in a Press Release.
Will provide a meaningful boost to our export
He further said that this deal can provide a meaningful boost to India’s export growth trajectory, broaden market access, and underscore the strategic importance of sustained cooperation between two countries.
"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,” added FICCI President.
Backgrounder (Monday)
The US President Donald J Trump and Prime Minister Narendra Modi spoke today in a high-level conversation that focused on trade, global security, and energy cooperation, marking another significant moment in India–US relations.
Tariff Reduction Announced by the United States
Shortly after the call, President Trump announced that the United States would reduce tariffs on Indian goods from 25% to 18%. The move is expected to provide relief to Indian exporters and improve market access for “Made in India” products in the US.
Increased Purchases from the US
President Trump further stated that India would significantly increase purchases of American goods, including energy, technology, agriculture, coal, and other products, as part of efforts to deepen economic cooperation.
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.
Modi Welcomes Tariff Relief
Prime Minister Modi welcomed the tariff reduction, thanking President Trump on behalf of India’s 1.4 billion people. He said that President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. and highlighted the importance of cooperation between the world’s two largest democracies.
Stronger Ties Without a Formal Deal
While no formal trade agreement was announced, both leaders emphasized that the tariff reduction and broader discussions reflect growing momentum in India–US relations, with potential for deeper collaboration going forward.
