Global trust in India's stability rising: PM in Parliament
PM Modi says India's new trade deals with the US and EU are boosting global trust in the country's stability.
"When the trade deal with the European Union took place, the world became more confident of stability," he shared during Parliament.
US-India trade deal
Announced after a call between Modi and President Trump, this deal cuts US tariffs on about 60% of Indian exports—think clothes, leather goods, jewelry—from 50% down to 18%.
The US also dropped a separate punitive tariff that had been tied to India's purchases of Russian oil.
The opposition is questioning details around India's big oil buys from Russia, but Commerce Minister Piyush Goyal says it'll help Indian manufacturers and small businesses.
India-US trade
The goal is to push India-US trade up to $500 billion within an unspecified timeframe.
A joint statement is coming soon, with an official signing expected in weeks.
India has made sure its agriculture and fisheries sectors stay protected under this agreement.