New Delhi, February 8: Excitement is palpable among BUSINESS and agricultural experts regarding the recent trade deal between India and the United States. They believe it will be highly beneficial for the country. Experts assert that this agreement will not only provide relief to traders but also play a crucial role in increasing farmers’ incomes. The reduction in export duties and strict import conditions are expected to strengthen the domestic market and production.
Nikhil Madras, President of the South Gujarat Chambers of Commerce and Trade in Surat, stated in an interview that the establishment of an 18% tariff in the India-U.S. trade deal will prove advantageous for India. He noted that the U.S. had previously imposed a 25% tariff, followed by an additional 25%, totaling 50%. The reduction to 18% clearly indicates a significant benefit for India from this agreement.
Madras added that after the U.S. raised tariffs, India sought alternative markets worldwide and achieved success. This strategy has reduced India’s dependency on the U.S. He emphasized that this situation offers India a double benefit—lower tariffs could restore favorable conditions, while a new global strategy will also be advantageous. This deal further strengthens India’s path toward self-reliance.
Currently, India exports approximately $86.5 billion to the U.S., while imports from the U.S. amount to about $45.3 billion. Madras believes that there will be little change in these figures, as India has now established a stable pace in global trade. He attributed this success to Prime Minister Narendra Modi’s visionary policies, stating that the government has never succumbed to pressure but has continued negotiations, resulting in this trade deal.
Additionally, Babu Bhai Sheikh, Director of Surat APMC, mentioned that the India-U.S. trade agreement will be highly beneficial for farmers and traders in South Gujarat, particularly in the fruits and vegetables sector. He pointed out that export duties on these products are set to zero under this deal, directly benefiting local agriculture and trade.
Sheikh also noted that strict conditions have been imposed on imports, preventing products like citrus fruits, potatoes, peas, and beans from entering India from the U.S. This will provide significant protection for Indian farmers. He praised this initiative as commendable in line with Prime Minister Modi’s goal of doubling farmers’ incomes. The deal is expected to create direct business opportunities for traders, boost exports, and ultimately increase the income of both farmers and the trading community.
