Given exporters, farmers great advantage over competitors: Ruling parties hail India-US interim trade deal

New Delhi, Feb 7 (IANS) As the United States and India have finalised an interim trade agreement that cuts US tariffs on Indian goods to 18 per cent, leaders from ruling parties on Saturday hailed the development, calling it a major boost for India’s exporters, small industries, farmers and workers.

Several NDA leaders said the deal is significant as it comes soon after India concluded what they described as a landmark agreement with the European Union. They claimed the new trade framework will help Indian products compete better in global markets and strengthen the country’s economic momentum.

Union Minister Arjun Ram Meghwal welcomed the agreement and said India is actively expanding trade ties across the world.

“We are entering into Free Trade Agreements with many countries. This will bring investment and give momentum to our economy. We welcome all such trade deals and thank those who have worked to make them happen,” he said.

Union Education Minister Dharmendra Pradhan said India’s economic position is strong and trade partnerships are expanding rapidly.

“India’s economy is in a strong position. We have signed trade deals with many countries, and recently concluded talks with New Zealand, the UK, and the US. India’s industries and businesses will receive a significant boost,” he said.

Shiv Sena leader Shaina NC congratulated Prime Minister Narendra Modi and said the agreement reflects the government’s approach of balancing diplomacy with national interest.

“Congratulations to Prime Minister Narendra Modi, because he has always believed in ensuring that, alongside dialogue, India emerges victorious. This trade deal is a win for India, benefiting our imports, exports, and the 'Make in India' initiative, and more such successes will follow,” she said.

Shiv Sena leader Sanjay Nirupam said, "Finally, the US administration issued its executive order. President Donald Trump recently announced that the high tariffs imposed on India would be withdrawn. Now, an 18 per cent tariff will apply on all Indian products exported to the US. This is certainly the result of the Indian government’s consistent efforts. Through trade talks and various negotiations for the trade deal with the US, India achieved this outcome."

Rajya Sabha MP Harsh Vardhan Shringla described the interim deal as a strategic advantage for Indian stakeholders.

“This is a very important deal because it comes soon after we have concluded the mother of all deals with the European Union, 27 countries. After that, the trade deal with the United States has given our exporters, small industrialists, our farmers and our labourers a great advantage over our competitors,” he said.

Uttar Pradesh Deputy Chief Minister Keshav Prasad Maurya said the agreement has been made keeping India’s interests at the centre.

"Under the leadership of Prime Minister Narendra Modi, trade deals with the United States have been made keeping India’s interests in mind. Along with the US, trade agreements with the European Union, the UK, and several other countries will boost India’s economy,” he said.

BJP spokesperson Pratul Shah Deo said the reduced tariffs will directly benefit Indian exporters.

“The trade deal with the United States, along with the earlier FTA with the European Union, are two significant agreements. I call them ‘major deals’ because tariffs have been reduced from 50 per cent to 18 per cent, making it much easier for Indian exporters to sell their products in the US market at competitive prices,” he said.

JD(U) national spokesperson Rajeev Ranjan Prasad said the framework protects India’s interests and provides a major opportunity for producers. “The framework of the interim trade deal clearly protects India’s interests. It also addresses the allegations raised by the Opposition. This is a golden opportunity for Indian producers and exporters, as India has now signed nine major trade agreements with some of the world’s largest economies,” he said. He added that the deal is expected to boost the manufacturing sector and strengthen India’s position as a global economic power.

Bihar Minister Dilip Kumar Jaiswal also criticised the Opposition’s response. “When tariffs are increased, the Opposition raises an uproar, and when the United States reduces tariffs, the Opposition is still worried. Today, India has worked to strengthen its position as the world’s fourth-largest economic power and its security system,” he said.

Meanwhile, Congress MP Sukhdeo Bhagat questioned the implications of the agreement, particularly on issues linked to strategic autonomy.

“Will Trump decide from whom India will purchase oil and with whom it will make deals? This is a direct attack on India’s sovereignty. Prime Minister Modi does not come to Parliament; he is afraid here, afraid of Trump there, and afraid of questions. So I believe this is not a trade deal; I can say it is a deal affecting strategic autonomy,” he said.

--IANS