Up to date on: Feb 04, 2026 2:03:46 AM IST
India-US Commerce Deal LIVE Updates: Indian exterior affairs minister S Jaishankar met US Treasury secretary Scott Bessent on Wednesday as the 2 held additional talks on the financial and strategic partnership between the 2 nations.
India-US commerce deal LIVE updates: After commerce negotiations which stretched virtually round a yr, India and america lastly reached a much-anticipated commerce settlement as PM Modi and President Donald Trump introduced the deal on Monday night, prelude of which was given by the US ambassador to India, Sergio Gor, simply hours forward.
Beneath the deal, Indian exporters acquired an enormous aid as President Trump mentioned that the tariffs on India exports to the US have been diminished to 18% from 25%. Nonetheless, he additionally claimed that India has agreed to cease shopping for oil from Russia and to purchase extra oil from america and doubtlessly Venezuela. Then again, the tariffs on India exports to the US have been diminished to 18% from 25%.
Whereas the submit by President Trump on Fact Social solely talked concerning the reciprocal tariffs, a Whereas Home official confirmed to HT that the opposite 25%, which was imposed as a penalty on India for purchasing Russian oil, shall be dropped “as a part of India’s settlement to stop Russian oil purchases”. “Closing tariff shall be 18%,” the official mentioned.
The deal was concluded after each the leaders spoke on Monday. Whereas PM Modi shied away from mentioning commerce deal, ministers together with Ashwini Vaishnaw and Piyush Goyal confirmed on X {that a} commerce deal has been agreed upon.
India-US commerce deal LIVE updates | Key factors
What PM Modi mentioned
After US President Donald Trump introduced the deal by way of his Fact Social account, PM Modi took to X (previously Twitter) and mentioned that it was “great” to talk to his “expensive pal” President Trump and thanked on behalf of Indians.
“Great to talk with my expensive pal President Trump as we speak. Delighted that Made in India merchandise will now have a diminished tariff of 18%. Massive because of President Trump on behalf of the 1.4 billion individuals of India for this excellent announcement,” PM Modi wrote.
“When two giant economies and the world’s largest democracies work collectively, it advantages our individuals and unlocks immense alternatives for mutually helpful cooperation. President Trump’s management is important for international peace, stability, and prosperity. India totally helps his efforts for peace. I look ahead to working intently with him to take our partnership to unprecedented heights,” he added.
What Donald Trump mentioned
Whereas saying the deal, US President Donald Trump known as PM Modi considered one of his “biggest mates” and mentioned that the 2 leaders mentioned not simply commerce but in addition learn how to finish the Ukraine Russia struggle.
“He agreed to cease shopping for Russian Oil, and to purchase way more from america and, doubtlessly, Venezuela. It will assist END THE WAR in Ukraine, which is going down proper now, with 1000’s of individuals dying each week!” Trump wrote.
He added that each the nations agreed to a Commerce Deal between america and India, “whereby america will cost a diminished Reciprocal Tariff, decreasing it from 25% to 18%.”
“They are going to likewise transfer ahead to scale back their Tariffs and Non Tariff Limitations towards america, to ZERO. The Prime Minister additionally dedicated to “BUY AMERICAN,” at a a lot larger degree, along with over $500 BILLION DOLLARS of U.S. Power, Know-how, Agricultural, Coal, and lots of different merchandise. Our superb relationship with India shall be even stronger going ahead. Prime Minister Modi and I are two those that GET THINGS DONE, one thing that can’t be mentioned for many. Thanks to your consideration to this matter!” he added.
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Beneath the deal, Indian exporters acquired an enormous aid as President Trump mentioned that the tariffs on India exports to the US have been diminished to 18% from 25%. Nonetheless, he additionally claimed that India has agreed to cease shopping for oil from Russia and to purchase extra oil from america and doubtlessly Venezuela. Then again, the tariffs on India exports to the US have been diminished to 18% from 25%.
Whereas the submit by President Trump on Fact Social solely talked concerning the reciprocal tariffs, a Whereas Home official confirmed to HT that the opposite 25%, which was imposed as a penalty on India for purchasing Russian oil, shall be dropped “as a part of India’s settlement to stop Russian oil purchases”. “Closing tariff shall be 18%,” the official mentioned.
The deal was concluded after each the leaders spoke on Monday. Whereas PM Modi shied away from mentioning commerce deal, ministers together with Ashwini Vaishnaw and Piyush Goyal confirmed on X {that a} commerce deal has been agreed upon.
India-US commerce deal LIVE updates | Key factors
What PM Modi mentioned
After US President Donald Trump introduced the deal by way of his Fact Social account, PM Modi took to X (previously Twitter) and mentioned that it was “great” to talk to his “expensive pal” President Trump and thanked on behalf of Indians.
“Great to talk with my expensive pal President Trump as we speak. Delighted that Made in India merchandise will now have a diminished tariff of 18%. Massive because of President Trump on behalf of the 1.4 billion individuals of India for this excellent announcement,” PM Modi wrote.
“When two giant economies and the world’s largest democracies work collectively, it advantages our individuals and unlocks immense alternatives for mutually helpful cooperation. President Trump’s management is important for international peace, stability, and prosperity. India totally helps his efforts for peace. I look ahead to working intently with him to take our partnership to unprecedented heights,” he added.
What Donald Trump mentioned
Whereas saying the deal, US President Donald Trump known as PM Modi considered one of his “biggest mates” and mentioned that the 2 leaders mentioned not simply commerce but in addition learn how to finish the Ukraine Russia struggle.
“He agreed to cease shopping for Russian Oil, and to purchase way more from america and, doubtlessly, Venezuela. It will assist END THE WAR in Ukraine, which is going down proper now, with 1000’s of individuals dying each week!” Trump wrote.
He added that each the nations agreed to a Commerce Deal between america and India, “whereby america will cost a diminished Reciprocal Tariff, decreasing it from 25% to 18%.”
“They are going to likewise transfer ahead to scale back their Tariffs and Non Tariff Limitations towards america, to ZERO. The Prime Minister additionally dedicated to “BUY AMERICAN,” at a a lot larger degree, along with over $500 BILLION DOLLARS of U.S. Power, Know-how, Agricultural, Coal, and lots of different merchandise. Our superb relationship with India shall be even stronger going ahead. Prime Minister Modi and I are two those that GET THINGS DONE, one thing that can’t be mentioned for many. Thanks to your consideration to this matter!” he added.
Observe all of the updates right here:
Feb 04, 2026 2:03:46 AM IST
India-US commerce deal LIVE updates: As deal reaches closing levels, Opposition continues to lift questions
India-US commerce deal LIVE updates: Though union minister Piyush Goyal mentioned that the India-US commerce deal is in its closing levels of detailing and can quickly be formally inked by each nations, opposition continues to lift questions.
Having triggered an intense political debate, the Centre has projected the deal as a landmark whereas opposition has argued on points like transparency, nationwide pursuits, and the impression on farmers and home industries together with questions on why america was making bulletins concerning the deal fairly than India.
Feb 04, 2026 1:22:52 AM IST
India-US commerce deal LIVE updates: EAM S Jaishankar meets US Treasury secretary Scott Bessent
India-US commerce deal LIVE updates: Exterior Affairs Minister S Jaishankar on Wednesday mentioned that he was happy to fulfill United States Treasury secretary Scott Bessent in Washington DC.
“Happy to fulfill US Treasury Secretary Scott Bessent in Washington DC as we speak. @SecScottBessent,” Jaishankar wrote on X.
He added that the 2 had a helpful dialogue on development of India-US financial partnership and strategic cooperation between the 2 nations.
Feb 04, 2026 12:43:39 AM IST
India-US commerce deal LIVE updates: Samyukta Kisan Morcha slams BJP authorities over India-US commerce deal
India-US commerce deal LIVE updates: An umbrella physique of assorted farmer unions, Samyukta Kisan Morcha slammed the Bharatiya Janata Celebration for ‘historic betrayal’ and accused PM Modi of “shamelessly bowing to the diktats of Donald Trump”.
In an announcement, it reminded the prime minister of his Independence Day speech final yr, saying Modi had declared from the ramparts of the Pink Fort that “he was personally able to pay a heavy value to guard the pursuits of the farmers”.
Feb 04, 2026 12:09:59 AM IST
India-US commerce deal LIVE updates: White Home press secretary Karoline Leavitt calls deal ‘enormous win’
India-US commerce deal LIVE updates: White Home press secretary Karoline Leavitt on Tuesday known as the latest India-USA commerce settlement a ‘nice deal and an enormous win for American employees, companies, and shoppers alike’.
Leavitt added that Modi dedicated to purchasing extra oil from the US and doubtlessly Venezuela as a substitute of Russia and in addition $500B of purchases of U.S. power, transportation, agricultural merchandise.
Feb 03, 2026 11:32:09 PM IST
India-US commerce deal LIVE updates: BJP MP Harsh Vardhan Shringla calls India-US commerce offers ‘father of all offers’
India-US commerce deal LIVE updates: Calling the latest India-US commerce settlement as a ‘father of all offers’, BJP MP Harsh Vardhan Shringla on Tuesday mentioned the pact, together with the just lately concluded India-EU settlement, has opened unprecedented alternatives for India’s exporters, small-scale industries, farmers and labour-intensive sectors by giving them entry to a high-value international market.
“I feel it’s a historic deal. Full credit score goes to the Prime Minister, who has waited patiently to make sure one of the best situations had been in place to finalise the deal. It is usually attributable to the sturdy private chemistry he has with President Trump. He was filled with reward for PM Modi. It not solely provides us a aggressive market benefit within the US. On the similar time, it uplifts India’s stature on the worldwide stage. It’s a matter of pleasure that we’ve concluded two of the biggest offers,” information company ANI reported quoting the Rajya Sabha MP as saying.
Shringla additionally took a jibe on the opposition, claiming that they’ve nothinh to say now and that they’re agitated because the PM has concluded the ‘father of all offers’.
Feb 03, 2026 10:38:55 PM IST
India-US commerce deal LIVE updates: Lindsay Graham claims Trump’s tariffs labored on New Delhi
India is now shopping for “dramatically” much 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 instance” of how issues can change.
In August 2025, the US introduced the imposition of a 25 per cent tariff, plus a 25 per cent punitive responsibility, on India for buying Russia’s crude oil and army gear.
“Clearly, the strain we’re making use of to (Russian President Vladimir) Putin to return to the peace desk and cease large assaults towards Ukraine will not be working. President Trump’s thought of going after Putin’s oil clients who prop up his struggle machine ought to be pursued with vigour by the US and Europe,” Graham mentioned in a submit on X.
“President Trump has crippled Putin’s financial system by going after oil corporations and refineries. Tariffs on India is an efficient instance of how issues can change. India is now shopping for dramatically much less Russian oil, and if the opposite giant purchasers would observe swimsuit, it will assist finish this massacre,” he mentioned.
Feb 03, 2026 10:10:51 PM IST
India-US commerce deal LIVE updates: Trump’s commerce rep says New Delhi to maintain ‘some’ safety in agriculture
The Trump administration is working to place the small print of its commerce take care of India, introduced on Monday, on paper, however it can cut back India’s tariffs on American industrial items to zero from 13.5% and eradicate duties, however enable India to keep up some agricultural import protections, U.S. Commerce Consultant Jamieson Greer mentioned on Tuesday.
Greer advised CNBC in a stay interview that the U.S. would proceed to work on entry to sure protected areas of India’s agriculture sector, however mentioned India’s tariffs “for quite a lot of issues, you understand, tree nuts, wine, spirits, fruits, greens, and so forth, they are going right down to zero.”
Feb 03, 2026 9:03:40 PM IST
India-US commerce deal LIVE updates: Ex-Indian envoys hail settlement
As India and the US agreed to a commerce deal underneath which Washington slashed reciprocal tariffs on Indian items from 25 per cent to 18 per cent, a number of former ambassadors welcomed the transfer, some terming it a “historic deal”, and others describing it as a “very optimistic improvement” and a results of “quiet diplomacy”.
(PTI)
Feb 03, 2026 8:35:38 PM IST
India-US commerce deal LIVE updates: Andhra RS MP says settlement recreation changer for Indian financial system
Rajya Sabha Member Sana Satish Babu on Tuesday mentioned the India-US commerce deal is a “recreation changer” which secured diminished American taxes on Indian merchandise.
The Rajya Sabha MP mentioned that the US has agreed to deliver down tariffs on Indian items to 18 %.
“I convey my heartfelt congratulations to Prime Minister Modi for reaching yet one more historic worldwide financial victory for India,” mentioned Babu in a press launch.
The TDP Rajya Sabha MP mentioned the choice would deliver important advantages to Andhra Pradesh, notably to the coastal areas, including that aquaculture and seafood merchandise exported from Kakinada and different areas would now attain worldwide markets extra simply.
Feb 03, 2026 8:19:51 PM IST
India-US commerce deal LIVE updates: Exide expects ₹400-500cr export enhance from Europe tie-up, Indo-US commerce deal
Battery maker Exide Industries expects to garner further exports of ₹400-500 crore from the following fiscal, pushed by an unique tie-up with a European accomplice and the advantages of the India-US commerce deal, an organization official mentioned on Tuesday.
Talking to reporters, its Managing Director and CEO Avik Roy mentioned the corporate has entered into an unique association with a European entity as a part of its international exports enlargement technique.
The small print of the accomplice and the construction of the collaboration weren’t disclosed.
He mentioned the corporate, which is a pacesetter in battery utilization within the forklift, materials dealing with gear and high-end automotive phase in India, goals to concentrate on these areas in Europe, although exports shall be in non-public label.
Roy mentioned the India-US commerce deal, together with the India-EU commerce settlement, is anticipated to elevate exports’ contribution to about 8-9 per cent of its general income by the following fiscal.
Exports had declined to round 5 per cent in FY’26 resulting from geopolitical headwinds, he added.
Feb 03, 2026 8:03:05 PM IST
India-US commerce deal LIVE updates: Sachin Pilot raises query
Congress chief Sachin Pilot on Tuesday questioned the latest India-US commerce settlement, asking why america was making bulletins concerning the deal fairly than India.
Talking to the media, Pilot mentioned, “Why does the US make bulletins relating to commerce offers between India and the US? What’s the have to have fun if the tariffs have been diminished to 18 per cent? Plainly the settlement was made underneath strain from the US.”
Feb 03, 2026 7:34:41 PM IST
India-US commerce deal LIVE updates: Trump’s commerce consultant says ‘nonetheless papering’ the deal
The Trump administration is engaged on memorialising the commerce settlement introduced on Monday with India, US Commerce Consultant Jamieson Greer mentioned in an interview on CNBC on Tuesday.
“We’ll end papering it, however we all know the specifics, we all know the small print,” Greer mentioned.
He added that India is sustaining some safety round agricultural items.
Feb 03, 2026 7:22:59 PM IST
India-US commerce deal LIVE updates: Assam CM hails settlement as ‘historic’
Assam Chief Minister Himanta Biswa Sarma on Tuesday termed the India-US commerce deal as “historic”, and mentioned the settlement will profit the nation’s entrepreneurs, farmers, expert employees and MSMEs.
In a sequence of posts on X, Sarma lauded Prime Minister Narendra Modi for a breakthrough within the tariff stalemate between India and the US over the imposition of duties.
“The settlement reached between Adarniya @narendramodi ji and President @realDonaldTrump on the #IndiaUS Commerce Deal is historic. It unlocks alternatives for India’s entrepreneurs, farmers, expert employees and MSMEs and opens new doorways for them,” he mentioned.
Feb 03, 2026 6:41:10 PM IST
India-US commerce deal LIVE updates: Market rallies after settlement with Washington
Indian belongings rallied after the US sharply lower tariffs on the nation’s items, lifting the rupee and shares as traders reassessed a long-soured outlook.
The NSE Nifty 50 Index soared as a lot as 5%, essentially the most in 5 years, after US President Donald Trump mentioned he would lower tariffs on Indian items to 18%. The index pared some features to finish the day 2.6% larger. The rupee strengthened 1.4% to shut at 90.2725 per greenback, posting its greatest rise since December 2018, whereas bonds additionally gained.
(Bloomberg)
Feb 03, 2026 6:18:24 PM IST
India-US commerce deal LIVE updates: Piyush Goyal on challenges for New Delhi earlier than settlement
Piyush Goyal defined, “There have been numerous challenges. India was dealing with 50% tariffs; farmers had been struggling; marine exporters had been anxious. Till just a few days in the past, Opposition leaders additionally had been asking us when the deal would occur.”
Feb 03, 2026 5:56:55 PM IST
India-US commerce deal LIVE updates: What Piyush Goyal mentioned about particulars of the settlement
India’s commerce minister Piyush Goyal appeared on TV on Tuesday night purportedly to share some particulars and clear the air across the India-US commerce deal, however primarily heaped praises on the settlement, after which mentioned closing bits are being labored out.
“We’re nonetheless within the closing levels of negotiations. We shall be issuing a joint assertion as quickly as the ultimate understanding of the deal is inked, and technical particulars are finalised,” he mentioned in a video tackle.
“I can guarantee each Indian that the small print of this deal will make each Indian proud,” he mentioned. Learn extra right here.
Feb 03, 2026 5:47:53 PM IST
India-US commerce deal LIVE updates: Piyush Goyal reveals deal nonetheless not closing
Piyush Goyal reveals deal remains to be not closing.
“We’re nonetheless within the closing levels of negotiations. Might be shortly issuing a joint assertion as quickly as the ultimate understanding of the deal is inked, and technical particulars are finalised. Full particulars shall be shared quickly,” he mentioned.
Feb 03, 2026 5:46:07 PM IST
India-US commerce deal LIVE updates: Piyush Goyal on why Trump revealed settlement first
Piyush Goyal spoke on why Donald Trump revealed the deal first.
” When US had utilized reciprocal tariffs, they usually needed to roll these again — this information would come from US solely,” he mentioned.
Feb 03, 2026 5:43:24 PM IST
India-US commerce deal LIVE updates: Piyush Goyal continues to focus on Rahul Gandhi
Piyush Goyal focused Rahul Gandhi at size throughout his speech.
“Rahul Gandhi is a damaging individual (has a damaging mentality), and any chief who joins palms with him — would not like a deal which can profit so many sectors
“Rahul Gandhi ko kya mirchi lagti hai,” he added
“Does Rahul gandhi have an issue with the nation’s development,” Goyal continued
“He must reply what he needs to realize with this damaging mentality,” he added.
Feb 03, 2026 5:40:23 PM IST
India-US commerce deal LIVE updates: Goyal blames Rahul Gandhi for not having the ability to converse in parliament
Piyush Goyal blamed Rahul Gandhi for not having the ability to converse within the parliament
“I needed to talk in Parliament concerning the deal, however couldn’t accomplish that due to ugly scenes created by Congress led by Rahul Gandhi,” Goyal mentioned.
Feb 03, 2026 5:37:15 PM IST
India-US commerce deal LIVE updates: PM Modi ensured that India’s delicate sectors had been safeguarded, Goyal says
Piyush Goyal mentioned that PM Modi ensured that India’s delicate sectors – agriculture and dairy – had been safeguarded and given consideration within the deal
Feb 03, 2026 5:36:10 PM IST
India-US commerce deal LIVE updates: Goyal says PM at all times seemed out for agriculture, dairy
Piyush Goyal mentioned that PM Modi has at all times seemed out for the agriculture and dairy sectors, and he ensured that nothing unhealthy occurs to them
Feb 03, 2026 5:32:01 PM IST
India-US commerce deal LIVE updates: Piyush Goyal says PM Modi used his friendship with Trump
Piyush Goyal says PM Modi used his friendship with Donald Trump to get one of the best deal amongst all of the nations within the area
“This can be a good signal for the long run,” he mentioned.
Feb 03, 2026 5:28:46 PM IST
India-US commerce deal LIVE updates: Piyush Goyal provides particulars
Union minister Piyush Goyal is giving particulars on the India-US commerce deal.
Feb 03, 2026 5:27:17 PM IST
India-US commerce deal LIVE updates: Sunil Bharti Mittal hails settlement
Bharti Enterprises Chairman Sunil Bharti Mittal hailed the India_US commerce deal, calling it a major milestone for each the nations
“The India–US commerce deal is a a lot awaited and a major milestone for each the nations, unlocking immense alternatives for investments, development,” Bharti mentioned.
“The flurry of FTA’s is an affirmation of India’s function on the centre of world frameworks, aimed toward constructing resilient worldwide commerce patterns,” he added.
