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India-US Trade Deal to Boost Exports, Says Former Foreign Secretary

Former Foreign Secretary Harsh Vardhan Shringla stated that the India-US Interim Trade Agreement will lead to a significant increase in Indian exports to the United States. He emphasized that the deal provides a major advantage to Indian exporters, small industrialists, farmers, and laborers. External Affairs Minister S. Jaishankar also praised the agreement, saying it supports the 'Make in India' initiative and ensures greater market access. The framework, a step towards a broader trade agreement, includes the US applying an 18% reciprocal tariff on various Indian goods.

Key Points: India-US Trade Deal to Significantly Boost Exports

  • Interim trade deal with US
  • Major boost for Indian exports
  • Access to $30 trillion market
  • Supports Make in India vision
2 min read

"Exports to US will increase significantly," says former FS Harsh Vardhan Shringla

Former FS Harsh Vardhan Shringla says the India-US interim trade agreement will give exporters a major advantage and increase market access.

"our exports to the United States are going to increase very significantly - Harsh Vardhan Shringla"

Kolkata, February 7

RS MP and former foreign secretary Harsh Vardhan Shringla on Saturday said that the India-US Interim Trade Agreement has given clarity to the business community.

Shringla, while talking to reporters, said that Indian exports to the US are going to increase very significantly.

"This is a very important deal because it comes soon after we have concluded the mother of all deals with the European Union, 27 countries. After that, trade deal with the United States I think has given our exporters, our small industrialists, our farmers and our labourers a great advantage over our competitors. So I would say that our exports to the United States are going to increase very significantly," he said.

"We will have very good market access to a large market of 30 trillion dollars. Combined with the EU, we will have a market of almost 60 trillion dollars. And I think this is very good news for all of our people, especially our youth, as the Prime Minister said in Parliament just the other day," he added.

Earlier in the day, External Affairs Minister S Jaishankar lauded the India-United States interim trade agreement, stating that the deal will ensure greater market access for Indian exporters.

In an X post, Jaishankar said the agreement will support the Centre's 'Make in India' vision.

"The framework for an Interim Agreement will realise a mutually beneficial India - US trade partnership. The framework will ensure greater market access and opportunities for our exporters. New vistas have opened up that will further promote Make in India," the EAM said.

The two nations announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, a step toward advancing the broader US-India Bilateral Trade Agreement (BTA) negotiations launched by Prime Minister Narendra Modi and President Donald Trump in February 2025, according to a joint statement released by the White House and the Commerce Ministry.

As per the agreement, 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.

- ANI

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Reader Comments

S
Sarah B
While the potential is huge, I hope the government ensures our farmers and small industrialists are prepared to meet the quality standards and competition. Capacity building is key.
V
Vikram M
Combined with the EU deal, this is a strategic masterstroke. A market of almost 60 trillion dollars! This should create lakhs of jobs if implemented well. Jai Hind!
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Priya S
The 18% reciprocal tariff on our goods like textiles and leather sounds promising. Our handicrafts and artisanal products finally get the global platform they deserve. 🙏
R
Rohit P
Let's be cautiously optimistic. We've heard big promises before. The real test will be in the execution and how quickly our exporters can adapt. The 'Make in India' vision needs solid ground support.
M
Michael C
As someone in the organic chemicals business, this clarity is a relief. A stable trade framework with the US was long overdue. Hoping for smoother logistics and fewer bureaucratic hurdles now.

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