Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Tuesday welcomed the newly signed India–United States trade agreement, calling it a significant moment in bilateral relations and global trade.
Reacting to the development, the chief minister said the deal would open up fresh opportunities for Indian businesses, with Maharashtra expected to be among the key beneficiaries.
Taking to X (formerly Twitter), Fadnavis described the agreement as a “A new chapter of friendship,” underscoring its importance at a time when global trade is witnessing major realignments.
He credited the understanding reached between Prime Minister Narendra Modi and President Trump for paving the way for what he termed a historic outcome for both nations.
According to the chief minister, the agreement places India in a favourable position among the world’s major exporting economies, as the United States extends preferential tariff treatment to Indian goods. “This marks the beginning of a new era in India–US friendship,” Fadnavis said, adding that the agreement would create a range of new and promising opportunities for businesses while delivering benefits to people in both countries.
Highlighting Maharashtra’s role, Fadnavis said the state has consistently remained a frontrunner in India’s export landscape.
With the new trade framework in place, he noted, Maharashtra is likely to witness increased momentum across several sectors.
The chief minister pointed out that the state could attract substantial investments in data centres, artificial intelligence, and other advanced and emerging technologies, which are expected to drive long-term economic growth.
Details on the India-US Trade Deal
India and the United States agreed on a $500 billion-dollar trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent.
The announcement in this regard was made by US President Trump on Monday after a phone call with Prime Minister Modi.
Key takeaways of the deal:
- The US will cut reciprocal tariffs on Indian goods from 25 per cent to 18 per cent.
- According to the US President, India will reduce tariffs and non-tariff barriers to zero.
- Trump also claimed that after the deal, India will stop buying Russian oil.
- The US President said that New Delhi will now buy crude oil from Venezuela.
- Trump claimed that the deal would help bring an end to the Russia-Ukraine war.
- Trump said that India has committed to buying $500 billion of US goods from different sectors, including energy and agriculture.
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