India-US trade deal: India in a better position in Asia after trade deal with America

Internet Desk: A report by JM Financial (an investment banking firm) revealed that India is in a better position in Asia after the trade deal with the United States (India-US trade deal). It stated that this agreement is a positive development for Indian markets and will contribute to strengthening the Indian currency. It is known that an interim trade agreement between India and the US has been finalized. Following this deal, tariffs on Indian products have been reduced from 50 percent to 18 percent. It is noteworthy that this is lower compared to the tariffs the superpower imposes on several Asian countries like Pakistan, China, Sri Lanka, and Bangladesh.

“Exports will pick up. The reduction in tariffs will support a renewed increase in India's trade surplus with the USA. The increase in exports will contribute to an increased inflow of dollars into the country. The rupee's exchange rate against the dollar is expected to improve. All these are positive factors for Indian equities, especially for export-oriented sectors. Considering these factors, India's position has improved compared to several Asian countries facing higher tariffs. However, foreign institutional investments into our country are likely to increase gradually rather than suddenly as a result of these developments,” the report noted.

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The framework for the interim trade agreement between the two countries has been finalized. It is known that Union Minister of Commerce and Industry Piyush Goyal stated that this agreement will open up a $30 trillion market for Indian exporters. The central government has revealed that it will create new opportunities for farmers, MSMEs, startup innovators, and fishermen in India.

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