India-US Trade Deal Highlights: External Affairs Minister S Jaishankar meets US Secretary of State Marco Rubio

Several developments followed as India and the US sealed a trade deal. While there was some ruckus in Parliament on Tuesday as Opposition leaders opposed the deal, External Affairs Minister S Jaishankar met Treasury secretary Scott Bessent and US Secretary of State Marco Rubio in Washington DC.

The trade deal comes after months of negotiations between officials from New Delhi and Washington. Under the deal, the existing tariffs on India have been reduced to 18%.

India-US trade deal LIVE updates: US Secretary of State Marco Rubio on Wednesday held discussions with Indian external affairs minister S Jaishankar over the recent India-US trade deal.

“Met with Indian External Affairs Minister @DrSJaishankar to discuss our bilateral cooperation on critical minerals exploration and work together to unlock new economic opportunities between our two countries,” Rubio wrote on X, adding that they commended the trade deal.

India-US trade deal LIVE updates: Union Minister and BJP leader JP Nadda on Tuesday said that the government will make a statement on the India-US trade deal in the Parliament soon.

Opposition leaders staged a walkout expressing disagreement over the deal agreed by the two countries.

(With ANI inputs)

India-US trade deal LIVE updates: Former Indian diplomat Vidya Bhushan Soni said that the recent India-US trade deal reflected mutual acceptance of each other's positions and marks the end of prolonged uncertainty surrounding trade negotiations.

“The Prime Minister and the US President have agreed and accepted the position put forward by either side. It is a matter of great happiness and satisfaction not just for governments but also for the people of both countries,” news agency ANI reported quoting Soni as saying.

India-US trade deal LIVE updates: Kerala chief minister Pinarayi Vijayan on Tuesday said that the US-India trade deal raises serious concerns, and that it will push the country into an "unequal and subordinate position".

Taking to X to raise his concern, Vijayan demanded the full agreement be placed before the public and the Parliament.

“The reported US-India trade deal raises serious concerns. Slashing tariffs and non-tariff protections will hurt Indian farmers, workers and domestic industry, while pushing the country into an unequal, subordinate position,” Vijayan wrote.

India-US trade deal LIVE updates: Terming the recent India-US trade deal a ‘people focused’ diplomacy, Odisha chief minister Mohan Charan Majhi on Tuesday lauded the agreement which was marked by a significant reduction in reciprocal tariffs, asserting that Odisha will immensely benefit from the trade deal.

“I extend my sincere congratulations and gratitude to PM Shri @narendramodi Ji for his decisive leadership and people-focused diplomacy, strengthening Indo-US ties and enhancing India's global economic presence,” Majhi wrote on X.

India-US trade deal LIVE updates: Although union minister Piyush Goyal said that the India-US trade deal is in its final stages of detailing and will soon be formally inked by both countries, opposition continues to raise questions.

Having triggered an intense political debate, the Centre has projected the deal as a landmark while opposition has argued on issues like transparency, national interests, and the impact on farmers and domestic industries along with questions on why the United States was making announcements about the deal rather than India.

India-US trade deal LIVE updates: External Affairs Minister S Jaishankar on Wednesday said that he was pleased to meet United States Treasury secretary Scott Bessent in Washington DC.

“Pleased to meet US Treasury Secretary Scott Bessent in Washington DC today. @SecScottBessent,” Jaishankar wrote on X.

He added that the two had a useful discussion on advancement of India-US economic partnership and strategic cooperation between the two nations.

India-US trade deal LIVE updates: An umbrella body of various farmer unions, Samyukta Kisan Morcha slammed the Bharatiya Janata Party for ‘historic betrayal’ and accused PM Modi of “shamelessly bowing to the diktats of Donald Trump”.

In a statement, it reminded the prime minister of his Independence Day speech last year, saying Modi had declared from the ramparts of the Red Fort that “he was personally ready to pay a heavy price to protect the interests of the farmers”.

India-US trade deal LIVE updates: White House press secretary Karoline Leavitt on Tuesday called the recent India-USA trade agreement a ‘great deal and a huge win for American workers, businesses, and consumers alike’.

Leavitt added that Modi committed to buying more oil from the US and potentially Venezuela instead of Russia and also $500B of purchases of U.S. energy, transportation, agricultural products.

India-US trade deal LIVE updates: Calling the recent India-US trade agreement as a ‘father of all deals’, BJP MP Harsh Vardhan Shringla on Tuesday said the pact, along with the recently concluded India-EU agreement, has opened unprecedented opportunities for India's exporters, small-scale industries, farmers and labour-intensive sectors by giving them access to a high-value global market.

“I think it is a historic deal. Full credit goes to the Prime Minister, who has waited patiently to ensure the best conditions were in place to finalise the deal. It is also attributable to the strong personal chemistry he has with President Trump. He was full of praise for PM Modi. It not only gives us a competitive market advantage in the US. At the same time, it uplifts India's stature on the global stage. It is a matter of pride that we have concluded two of the largest deals,” news agency ANI reported quoting the Rajya Sabha MP as saying.

Shringla also took a jibe at the opposition, claiming that they have nothinh to say now and that they are agitated as the PM has concluded the ‘father of all deals’.

India is now buying "dramatically" less Russian oil, US Senator Lindsey Graham claimed on Tuesday, asserting that tariffs imposed by US President Donald Trump on Delhi for its oil purchases from Moscow are a "good example" of how things can change.

In August 2025, the US announced the imposition of a 25 per cent tariff, plus a 25 per cent punitive duty, on India for purchasing Russia's crude oil and military equipment.

"Clearly, the pressure we're applying to (Russian President Vladimir) Putin to come to the peace table and stop massive attacks against Ukraine is not working. President Trump's idea of going after Putin's oil customers who prop up his war machine should be pursued with vigour by the US and Europe," Graham said in a post on X.

"President Trump has crippled Putin's economy by going after oil companies and refineries. Tariffs on India is a good example of how things can change. India is now buying dramatically less Russian oil, and if the other large purchasers would follow suit, it would help end this bloodbath," he said.

The Trump administration is working to put the details of its trade deal with India, announced on Monday, on paper, but it will reduce India's tariffs on American industrial goods to zero from 13.5% and eliminate duties, but allow India to maintain some agricultural import protections, U.S. Trade Representative Jamieson Greer said on Tuesday.

Greer told CNBC in a live interview that the U.S. would continue to work on access to certain protected areas of India's agriculture sector, but said India's tariffs "for a variety of things, you know, tree nuts, wine, spirits, fruits, vegetables, etc, they're going down to zero."

As India and the US agreed to a trade deal under which Washington slashed reciprocal tariffs on Indian goods from 25 per cent to 18 per cent, several former ambassadors welcomed the move, some terming it a "historic deal", and others describing it as a "very positive development" and a result of "quiet diplomacy".

(PTI)

Rajya Sabha Member Sana Satish Babu on Tuesday said the India-US trade deal is a "game changer" which secured reduced American taxes on Indian products.

The Rajya Sabha MP said that the US has agreed to bring down tariffs on Indian goods to 18 percent.

"I convey my heartfelt congratulations to Prime Minister Modi for achieving yet another historic international economic victory for India," said Babu in a press release.

The TDP Rajya Sabha MP said the decision would bring significant benefits to Andhra Pradesh, particularly to the coastal regions, adding that aquaculture and seafood products exported from Kakinada and other areas would now reach international markets more easily.

Battery maker Exide Industries expects to garner additional exports of ₹400-500 crore from the next fiscal, driven by an exclusive tie-up with a European partner and the benefits of the India-US trade deal, a company official said on Tuesday.

Speaking to reporters, its Managing Director and CEO Avik Roy said the company has entered into an exclusive arrangement with a European entity as part of its global exports expansion strategy.

The details of the partner and the structure of the collaboration were not disclosed.

He said the company, which is a leader in battery usage in the forklift, material handling equipment and high-end car segment in India, aims to focus on these spaces in Europe, though exports will be in private label.

Roy said the India-US trade deal, along with the India-EU trade agreement, is expected to lift exports' contribution to about 8-9 per cent of its overall revenue by the next fiscal.

Exports had declined to around 5 per cent in FY'26 due to geopolitical headwinds, he added.

Congress leader Sachin Pilot on Tuesday questioned the recent India-US trade agreement, asking why the United States was making announcements about the deal rather than India.

Speaking to the media, Pilot said, "Why does the US make announcements regarding trade deals between India and the US? What is the need to celebrate if the tariffs have been reduced to 18 per cent? It seems that the agreement was made under pressure from the US."

The Trump administration is working on memorialising the trade agreement announced on Monday with India, US Trade Representative Jamieson Greer said in an interview on CNBC on Tuesday.

"We'll finish papering it, but we know the specifics, we know the details," Greer said.

He added that India is maintaining some protection around agricultural goods.

Assam Chief Minister Himanta Biswa Sarma on Tuesday termed the India-US trade deal as "historic", and said the agreement will benefit the country's entrepreneurs, farmers, skilled workers and MSMEs.

In a series of posts on X, Sarma lauded Prime Minister Narendra Modi for a breakthrough in the tariff stalemate between India and the US over the imposition of duties.

"The agreement reached between Adarniya @narendramodi ji and President @realDonaldTrump on the #IndiaUS Trade Deal is historic. It unlocks opportunities for India's entrepreneurs, farmers, skilled workers and MSMEs and opens new doors for them," he said.

Indian assets rallied after the US sharply cut tariffs on the country’s goods, lifting the rupee and stocks as investors reassessed a long-soured outlook.

The NSE Nifty 50 Index soared as much as 5%, the most in five years, after US President Donald Trump said he would cut tariffs on Indian goods to 18%. The index pared some gains to end the day 2.6% higher. The rupee strengthened 1.4% to close at 90.2725 per dollar, posting its biggest rise since December 2018, while bonds also gained.

(Bloomberg)

Piyush Goyal explained, “There were a lot of challenges. India was facing 50% tariffs; farmers were suffering; marine exporters were worried. Until a few days ago, Opposition leaders also had been asking us when the deal would happen.”

India's commerce minister Piyush Goyal appeared on TV on Tuesday evening purportedly to share some details and clear the air around the India-US trade deal, but mainly heaped praises on the agreement, and then said final bits are being worked out.

“We are still in the final stages of negotiations. We will be issuing a joint statement as soon as the final understanding of the deal is inked, and technical details are finalised,” he said in a video address.

“I can assure every Indian that the details of this deal will make every Indian proud,” he said. Read more here.

Piyush Goyal reveals deal is still not final.
“We are still in the final stages of negotiations. Will be shortly issuing a joint statement as soon as the final understanding of the deal is inked, and technical details are finalised. Full details will be shared soon,” he said.

Piyush Goyal spoke on why Donald Trump revealed the deal first.

" When US had applied reciprocal tariffs, and they had to roll those back -- this info would come from US only," he said.