Framework for Interim Agreement will realise mutually beneficial India-US trade partnership: EAM Jaishankar

New Delhi: As the United States and India have finalised an interim trade agreement that cuts US tariffs on Indian goods to 18 per cent, External Affairs Minister S Jaishankar on Saturday said the framework for an Interim Agreement will realise a mutually beneficial India-US trade partnership.

Taking to social media platform X, EAM Jaishankar said, “The framework for an Interim Agreement will realise a mutually beneficial India-US trade partnership.”

He added that the framework will ensure greater market access and create more opportunities for Indian exporters.

“The framework will ensure greater market access and opportunities for our exporters. New vistas have opened up that will further promote ‘Make in India’,” he said.

PM Modi also hailed the development, calling it ‘great news’ for both nations.

Taking to social media platform X, PM Modi said, “Great news for India and USA! We have agreed on a framework for an Interim Trade Agreement between our two great nations. I thank President Trump for his personal commitment to robust ties between our countries.”

He said the framework reflects the “growing depth, trust and dynamism” of the India-US partnership and will strengthen the ‘Make in India’ initiative.

“This framework reflects the growing depth, trust and dynamism of our partnership. It strengthens ‘Make in India’ by opening new opportunities for India’s hardworking farmers, entrepreneurs, MSMEs, StartUp innovators, fishermen and more. It will generate large-scale employment for women and youngsters,” PM Modi said.

PM Modi further said India and the US share a strong commitment to promoting innovation, and the agreement will deepen investment and technology partnerships between the two countries.

“India and the United States share a commitment to promoting innovation and this framework will further deepen investment and technology partnerships between us. This framework will also strengthen resilient and trusted supply chains and contribute to global growth. As India moves forward towards building a Viksit Bharat, we remain committed to building global partnerships that are future-oriented, empower our people and contribute to shared prosperity,” PM Modi added.

Earlier in the day, Commerce and Industry Minister Piyush Goyal said the trade agreement will help “India and the US remain focussed on working together to further deepen economic cooperation, reflecting shared commitment to sustainable growth for our people and businesses.”

“This will open a $30 trillion market for Indian exporters, especially MSMEs, farmers and fishermen. The increase in exports will create lakhs of new job opportunities for our women and youth,” said the minister.

IANS