India greets Trump trade deal announcement with joy, caution

AFP | Mumbai

Email : editor@newsofbahrain.com

Indian exporters hailed yesterday US President Donald Trump's announcement of a trade deal and pledge to slash tariffs, capping months of uncertainty, while analysts urged caution citing a lack of clarity.

Trump said the agreement came together after India's Prime Minister Narendra Modi promised to stop buying Russian oil over the war in Ukraine, adding that he would lower levies from 25 to 18%.

The US president also said New Delhi had agreed to purchase more than $500 billion worth of American energy, technology, agricultural, coal and other goods.

An extra 25% toll imposed over India's Russian oil purchases was also removed, a White House official told AFP.

As Washington struck deals with most governments since Trump unveiled sweeping tariffs in April last year, India had struggled to follow suit.