New Delhi, Feb 3 (TNT): The finalisation of the India–US Trade Deal, dubbed the ‘Father of All Deals’, is set to deliver a major boost to India’s export economy, with the United States agreeing to reduce tariffs on Indian-made products to 18 percent.
In a statement on Tuesday, the Federation of Indian Export Organisations (FIEO) while welcome the move, said the sharp tariff cut down from earlier levels of nearly 50 percent will significantly enhance the price competitiveness of Indian goods in the US market and unlock fresh export opportunities.
FIEO President S C Ralhan termed the agreement a game-changer for Indian exporters, particularly MSMEs, noting that sectors such as engineering goods, textiles and apparel, pharmaceuticals, chemicals, leather, gems and jewellery, and agricultural products are expected to see an immediate surge in demand.
Labour-intensive sectors, where orders were earlier on hold, are likely to witness faster order finalisation and capacity expansion.
The deal is also expected to encourage investments, strengthen India’s integration into US supply chains, and generate employment across export-oriented industries.
FIEO appreciated the proactive role of the Government of India under the leadership of Narendra Modi, stating that the agreement reinforces India’s position as a reliable and competitive global trading partner.
TNT TS
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