Prime Minister Narendra Modi, while addressing NDA MPs at the NDA Parliamentary Party meeting on Tuesday, said that the Union Budget 2026 has been prepared keeping in mind the next 25 years. He urged the MPs to explain this to the general public in a better way.
Referring to the political situation, the Prime Minister said that many small parties across the country are joining hands with the NDA. Their number is more than 50 percent, which shows how widely accepted the NDA’s political ideology is both in India and abroad.
Talking about the trade agreement, the Prime Minister told the MPs that it will be very beneficial for the country in the coming days.
Meanwhile, Parliamentary Affairs Minister Kiren Rijiju said nine trade agreements were finalized on Monday, including FTA, India-EU FTA and the agreement with the US.
He said, “New BJP president Nitin Nabin was welcomed. There is tremendous enthusiasm in the country about the historic trade agreements signed under the leadership of Prime Minister Modi – 9 trade agreements, FTA, India-EU FTA and yesterday’s agreement with the US and the announcement of duty cuts – he said.
He further said, “The MPs were also excited. So, the Prime Minister was felicitated in the NDA parliamentary party meeting. He was congratulated for the historic trade agreements. There have been free trade agreements with 39 countries; this is historic. These are 39 developed countries.”
Earlier, US President Donald Trump on Monday (local time) announced a trade deal with India, months after Washington imposed 50 percent tariffs on Indian goods through August 2025.
The agreement, released on Trump’s social media platform Truth Social, mentions significant tariff cuts and also includes a claim that India will stop purchasing oil from Russia.
Earlier, Trump had imposed 50 percent tariffs on India, 25 percent of which was linked to crude oil imports from Russia, after administration officials claimed India’s oil purchases support Russia’s war efforts.
Trump wrote in his social media post, “Out of friendship and respect for Prime Minister Modi, and at his request, with immediate effect, we have agreed to a trade agreement between the United States and India under which the United States will reduce reciprocal tariffs, reducing them from 25% to 18%. India will also move to reduce its tariff and non-tariff barriers against the United States to zero. Apart from purchasing agriculture, coal and many other products, it has also promised to ‘Buy American Products’.”
Following Trump’s post, Prime Minister Modi said on Twitter that it was great to talk to his “dear friend President Trump” and expressed happiness that “Made in India products will now face a lower tariff of 18%”.
Prime Minister Modi wrote in a post on Twitter, “It was a pleasure to talk to my dear friend President Trump today. I am very happy to know that the tariff on ‘Made in India’ products will now be reduced to 18%. On behalf of the 14 lakh people of India, many thanks to President Trump for this wonderful announcement.”