In Shorts
- Mandaviya says India-US interim trade agreement will significantly boost the Indian economy.
- US to reduce tariffs on Indian goods to 18 per cent, improving export opportunities.
- Minister highlights broader market access and benefits for exporters and entrepreneurs.
Indore, February 10, 2026 — Union Minister Mansukh Mandaviya has welcomed the interim trade framework recently agreed between India and the United States, saying it is poised to deliver a substantial boost to the Indian economy. The minister spoke to reporters in Indore, underlining that the agreement will widen market access for Indian exporters while strengthening bilateral trade ties.
The provisional deal reached after months of negotiations will see Washington cutting reciprocating tariffs on Indian products to 18 per cent from previous levels, a move expected to enhance India’s export competitiveness in one of its largest overseas markets.
Mandaviya noted that Indian businesses had already demonstrated resilience under higher tariff barriers by seeking alternative markets, but the new tariff structure will reopen US market opportunities more fully and at more competitive price points. He said the pact offers what he described as “double benefits” to domestic entrepreneurs and exporters by expanding access not only to the United States but also leveraging India’s existing trade deals with other major partners.
The minister also linked the broader economic strategy reflected in the interim trade agreement to recent fiscal policies. He praised the Union Budget 2026-27 as being aligned with India’s long-term growth objectives, focused on creating jobs, enhancing infrastructure and driving overall development toward the government’s Vision 2047.
Beyond trade figures, Mandaviya highlighted the importance of inclusivity for workers and businesses alike, pointing out recent policy enhancements that ensure social security and improved support for Indian workers abroad—features he said were absent in past trade negotiations.
Economic analysts say the interim deal is part of a broader shift in India’s global trade posture, as Delhi negotiates tariff reductions and market opening with several partners while balancing domestic sector protections and strategic priorities.
Despite some opposition voices questioning certain elements of the pact, proponents in India’s political and industrial corridors have framed the agreement as a milestone that could unlock new growth corridors for exports, foreign investment and MSME expansion.
The pact is expected to be finalised in a formal signing by March 2026, as both sides prepare to implement key tariff reductions and trade commitments aimed at reinforcing the economic partnership between the world’s two largest democracies.
Leave a Reply