Read PM Modi's full statement on landmark India-US trade deal

PM Modi and President Trump confirmed a trade deal that lowers US tariffs on India to 18%.

Published on: Feb 3, 2026, 01:37:05 IST

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Prime Minister Narendra Modi on Monday took to X and confirmed India's trade deal with the United States, expressing a “big thanks” to President Donald Trump.

US President Donald Trump shakes hands with Prime Minister Narendra Modi in the Oval Office of the White House in Washington, DC. (AFP File Photo)

President Trump earlier announced a trade deal after a phone call with PM Modi. Under the agreement, the US will lower tariffs on India from 25 per cent to 18 per cent.

India, in return, has agreed to stop buying Russian oil and will purchase $500 billion worth of US energy and tech, Trump said in a Truth Social Post.

Also read: Potential between India-US 'limitless': What Sergio Gor said after trade deal announcement

Trump, in the post, said that India had “agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela”, adding that these efforts will help in endig war in Ukraine.

Talking about his conversation with PM Modi, Trump said that they spoke about many things, “including trade, and ending the War with Russia and Ukraine.” He also called PM one of his ”great friends" and that both leaders are two people who get things done.”

Also read: Trump announces India-US trade deal; American tariffs lowered to 18 %

Hailing the trade deal announcement, PM Modi posted on his official account, thanking Trump.

Full text

Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.

When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.

President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace.

I look forward to working closely with him to take our partnership to unprecedented heights.

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