By Admin 
India US Trade Deal: The trade deal between India and America, which was inconclusive for a long time, was sealed late on Monday night. After this agreement, while there is tremendous enthusiasm in the stock market, the rupee also seems to be jumping with strength. Meanwhile, Chairman of the country’s largest bank SBI, C.S. Shetty called it a very positive step for the domestic economy.
Big benefit to economy from trade deal
He said that last night an agreement was reached between the two countries on removing the heavy burden of tariffs. Shetty further said that apart from this deal with America, India is also signing free trade agreements with many other countries, which will open new avenues of trade and will provide direct and huge benefits to the economy and exports.
Finance Minister Nirmala Sitharaman on Tuesday welcomed the cut in US duty on Indian products, calling it a big boost for the ‘Made in India’ initiative. He posted on the social media platform ‘X’ and said that now Indian goods will have to pay only 18 percent less retaliatory duty in America. Calling it a good news for ‘Made in India’ products, he thanked the leadership of Prime Minister Narendra Modi and US President Donald Trump for this achievement and said that it will benefit the people of the two biggest democracies of the world.
Shares of these sectors jumped
The Union Finance Minister further said that this success has been achieved after the high-level telephone conversation between Prime Minister Modi and President Trump. In return, India has committed to reducing trade barriers for US goods as well as significantly increasing imports in several sectors, including energy, technology and agriculture.
Shares of textile and leather sector rose by 20 percent on Tuesday morning after the trade deal between India and America was sealed. Under this deal, Washington will reduce the retaliatory duty on Indian goods from the current 25 percent to 18 percent. On BSE, shares of KPR Mills increased by 20 percent, shares of Garware Technical Fibers increased by 20 percent, shares of Welspun Living increased by 19.85 percent, shares of Vardhaman Textiles increased by 19.60 percent and shares of Trident increased by 19.52 percent.
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