Prime Minister Narendra Modi on Tuesday said self-confidence will help people realise their dream of a developed and self-reliant India.
The prime minister’s remarks came on the heels of US President Donald Trump’s announcement of India and the US clinching a historic bilateral trade agreement (BTA), which both countries had been negotiating for months now.
As per Trump’s social media post late Monday night, reciprocal tariffs on India-made products have been decreased from 25 per cent to 18 per cent, while India’s tariffs on various US goods will be zero. India will also significantly increase imports across sectors, including energy, technology, and agriculture.
The breakthrough follows a high-level telephonic conversation between Prime Minister Narendra Modi and US President Donald Trump.
“Self-confidence is that power with the help of which everything is possible,” PM Modi said in a post on X in Hindi, and also shared a Sanskrit couplet which meant that wealth is earned through righteous deeds.
“It (wealth) grows with courage and self-confidence, remains stable through skill and efficiency, and, when safeguarded by discipline, contributes to the progress of the nation,” the couplet read.
Following the trade agreement announcement, Prime Minister Modi had thanked Trump and said he was delighted that “Made in India products will now have a reduced tariff of 18 per cent”.
“Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18 per cent. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” the PM said.
He added that when two large economies and the world’s largest democracies work together, it benefits the 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,” he wrote in a post.
Also Read: US-India agreement on trade deal: Tariffs reduced from 50% to 18%
Other Union ministers, including EAM Jaishankar, Home Minister Amit Shah, Commerce and Industry Minister, Piyush Goyal, and Finance Minister Nirmala Sitharaman welcomed the trade pact and reduction in US’ tariffs on Indian goods, describing the development as a major boost for the ‘Made-in-India’ initiative.
Taking to social media platform X, the finance minister said that Indian products would now face a reduced reciprocal tariff of 18 per cent, benefitting both Indian and American economies. “Good news for #MadeInIndia products. They will now face reduced tariff of 18%. Thanking the leadership of PM @narendramodi and @POTUS for this development. People of our two large democracies stand to benefit,” she said in a post on X.
In a social media post late Monday night, Trump had said India will move forward to reduce “tariffs and non-tariff barriers” against the US to zero, adding that New Delhi would buy American goods, including energy, worth more than USD 500 billion.
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a trade deal between the United States and India, whereby the United States will charge a reduced reciprocal tariff, lowering it from 25 per cent to 18 per cent,” the US president said on social media.
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