Lucknow, February 7
Uttar Pradesh Chief Minister Yogi Adityanath on Saturday lauded the interim framework for the US-India trade agreement, stating that this delivers a decisive boost to Make in India.
Calling the announcement of the framework "a landmark step", Yogi Adityanath emphasised that this will expand global market access for Indian products.
He thanked Prime Minister Narendra Modi, hailing his "decisive and dynamic leadership" for securing an "India-first" agreement.
"A landmark step in strengthening the India-US economic partnership. This interim trade framework delivers a decisive boost to Make In India, expanding global market access for Indian products while safeguarding farmers, food security, and rural livelihoods," Yogi Adityanath said in a post on X.
"We are thankful to our Hon. PM Narendra Modi for his decisive and dynamic leadership in securing a balanced, reciprocal, and India-first agreement that empowers MSMEs, energises exports, strengthens supply chains, and creates new opportunities for youth," he added.
India and the US announced a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade. The joint statement said that the framework reaffirms the countries' commitment to the broader Bilateral Trade Agreement (BTA) negotiations, launched by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains.
As per the joint statement, the US will apply a reciprocal tariff rate of 18 per cent on Indian-originating goods, including textiles and apparel, leather and footwear, plastic and rubber, organic chemicals, home decor, artisanal products, and certain machinery.
The United States will also remove tariffs on certain aircraft and aircraft parts from India, which were imposed to address national security threats, the joint statement said.
According to the statement, India will eliminate or reduce tariffs on all US industrial goods and a wide range of food and agricultural products, including dried distillers' grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.
India also intends to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years.
- ANI
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