New Delhi, February 7: India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, has described the interim trade agreement between India and the United States as a crucial step for the future of both nations. Puri emphasized that this agreement symbolizes the shared commitment of both countries under the leadership of Prime Minister Narendra Modi and U.S. President Donald Trump.
In a post on the social media platform X, Hardeep Singh Puri stated, “The interim trade agreement between India and the U.S. is based on our shared commitment to a bright future for both great nations, led by Prime Minister Narendra Modi and President Donald Trump.”
He further noted, “This will strengthen the ‘Make in India‘ initiative and create substantial direct and indirect employment opportunities for our farmers, entrepreneurs, MSMEs, startup innovators, fishermen, and others, especially for our youth. As we continue our journey towards a developed India, this framework reflects our commitment to promoting innovation and deepening the investment and technology partnership between India and the U.S.”
It is important to mention that this framework also paves the way for the removal of tariffs on various Indian goods. This move depends on the successful outcomes of the interim agreement. The list includes generic medicines, gemstones, diamonds, and aircraft parts—sectors where India has a strong global presence and high demand in the U.S.
Washington will also eliminate tariffs on certain Indian aircraft and aircraft parts. These duties were previously imposed under national security declarations related to imports of aluminum, steel, and copper. India will receive a preferential tariff rate quota for automotive parts, which fall under U.S. national security tariffs on automobiles and auto components.
