New Delhi. External Affairs Minister S Jaishankar on Tuesday welcomed the trade agreement between India and the US, saying it will accelerate the growth of the economies of both the countries and strengthen the country’s ‘Make in India’ efforts. Jaishankar is on a three-day visit to the US to attend the US-led ministerial meeting on critical mineral supply chains.

The External Affairs Minister said he welcomed the announcements on bilateral trade. US President Donald Trump, after talking to Prime Minister Narendra Modi on Monday, said that a trade agreement has been agreed between India and America, under which America will reduce the retaliatory duty on Indian goods from the current 25 percent to 18 percent.

“This will create more jobs, boost growth and spur innovation in both economies,” Jaishankar wrote on social media platform ‘X’. This will strengthen ‘Make in India’ efforts and promote reliable relationships in the field of technology.” He said, ”There is immense potential in our economic cooperation and we are confident that we will realize them. A strong economic relationship is the strongest foundation of our strategic partnership.

After the announcement of the trade agreement, Prime Minister Modi said that he was very happy to know that now the duty on ‘Made in India’ products will be reduced to 18 percent.

Modi said in a post on ‘X’, “It was great to talk to my dear friend President Trump today. It is a matter of happiness that now the duty on ‘Made in India’ products will be reduced to 18 percent. Heartfelt thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.