New Delhi, February 3 (IANS). Big industrialists of the country have welcomed the historic trade agreement between India and America. He says that reducing the tariff on Indian goods to 18 percent will further strengthen the strategic and economic relations between the two countries.
“The benefits of moving slowly but surely have come to the fore again,” Mahindra Group Chairman Anand Mahindra wrote in a post on social media platform X.
“When the noise goes away, two natural partners come together,” he said.
At the same time, Aditya Birla Group Chairman Kumar Mangalam Birla congratulated Prime Minister Narendra Modi and US President Donald Trump for this trade agreement.
He said that the reduction in tariffs will strengthen the strategic and economic relations between the two countries and will provide new opportunities for investment and cooperation. He also said that his group is committed to increasing its presence and investments in the US, where there is huge potential for innovation and growth.
National Stock Exchange (NSE) Managing Director and CEO Ashish Kumar Chauhan called it a ‘big win’ for business, supply chain and partnership between the two countries.
He said that this is a welcome step for global trade. After talks between the leaders of America and India, the tariff on Indian goods reduced from 50 percent to 18 percent, which is very beneficial for business and partnership.
Additionally, on the India-US trade agreement, Dr. Anish Shah, Group CEO and Managing Director, Mahindra Group, said, “Mahindra Group welcomes the India-US trade agreement, which is an important step towards strengthening bilateral trade and investment ties. The immediate reduction in reciprocal duties on Indian exports from 50 per cent to 18 per cent as well as the commitment to gradually reduce tariff and non-tariff barriers will boost growth momentum and allow businesses to enter the market with confidence.” “There will be improvements in the forecasting needed to make investments.”
He further said that given the strong growth momentum of the Indian economy, this agreement provides meaningful impetus to India’s development ambitions.
Earlier, Prime Minister Narendra Modi had announced that now only 18 percent tariff will be imposed on ‘Made in India’ products in America. US President Donald Trump also confirmed that a trade agreement has been signed between India and America.
PM Modi posted on X that it was great to talk to President Trump.
Prime Minister Modi said that when two big democracies and big economies of the world work together, it benefits the people of both the countries and opens up huge opportunities for mutual cooperation. He also said that President Trump’s role is important for global peace, stability and prosperity and India supports his peace efforts.
–IANS
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