By Admin 
India US Trade Deal: The announcement of India-US trade deal on Tuesday filled tremendous enthusiasm in both the market and the rupee. As soon as the news of the agreement broke late on Monday night, the BSE Sensex jumped by nearly 2,600 points in the morning trade, while the rupee gained 1.2 percent against the dollar.
Under this deal, America has now announced to impose only 18 percent duty on Indian products instead of the proposed 50 percent high tariff. Due to this, vigorous buying was seen especially in export-oriented sectors. On the morning of Tuesday, February 3, a rise of up to 20 percent was recorded in many shares of the textile and leather sector.
Which stocks rose?
On BSE, shares of KPR Mills rose 20 percent, Garware Technical Fibers 20 percent, Welspun Living 19.85 percent, Vardhman Textile 19.60 percent and Trident 19.52 percent.
Apart from this, there was an increase of 9.56 percent in Raymond Lifestyle and 5.31 percent increase in Page Industries. In the leather and footwear sector, Bharatiya International was up 10.70 percent, Mayur Unicoaters was up 7.39 percent, Bata India was up 5 percent and Metro Brands was up 3.96 percent.
Big relief to India
Finance Minister Nirmala Sitharaman welcomed the US duty cut and called it a big boost for the ‘Made in India’ initiative. He said on the social media platform ‘X’ that Indian products will now have to pay a lower retaliatory duty of only 18 percent in America. 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 both the countries.
This agreement has become possible after the high-level telephone conversation between Prime Minister Modi and President Trump. In return, India has committed to reducing trade barriers for American goods and increasing imports in many sectors including energy, technology and agriculture.
It is noteworthy that a high tariff of 50 percent was imposed on India by America, out of which 25 percent was base tariff while additional 25 percent tariff was imposed for purchasing crude oil from Russia. But India had recently announced a reduction in oil purchases from Russia. In such a situation, this trade deal has brought great relief.
Also read: SBI Chairman gave this big statement on India-US trade deal and huge cut in US tariffs.
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