The World Trade Centre (WTC) Mumbai and the All India Association of Industries welcome the announcement of the conclusion of the long-awaited India-US trade deal. This is a milestone that strengthens one of the most consequential economic partnerships of the 21st century. The agreement reflects a shared commitment and efforts made by Prime Minister Narendra Modi and US President Donald Trump to deepen trade, investment, and supply-chain cooperation amid evolving global economic dynamics.

The announcement of the thaw in trade relationship had President Trump tweeting about the conclusion of the deal, which reduced the reciprocal tariff rate to 18 per cent and removed the 25 per cent tariff owing to Russian crude oil purchases. After the India-EU trade deal, it was expected that a deal would be announced, but it was the timing that was suspenseful. The announcement is timely and very good.