India-first approach advancing global interests, says RPSG Group Chairman Sanjiv Goenka on India-US trade deal

Industry bodies and business leaders on Tuesday welcomed the finalisation of the India-US trade deal, saying the sharp reduction in tariffs to 18% would enhance the global competitiveness of Indian exports and significantly expand market access in the world’s largest economy.  

RP-Sanjiv Goenka Group Chairman Dr. Sanjiv Goenka hailed the agreement, crediting the leadership at the highest level. In a social media post, Goenka said, “Anchored by Hon’ble PM @narendramodi ’s resolute leadership, persistence and an India-first approach continue to advance India’s economic interests on the global stage.”  

Mahindra Group CEO & MD Anish Shah said the immediate reduction in reciprocal tariffs on Indian exports from 50% to 18% marks a significant step forward in strengthening India–US trade and investment ties. He added that the commitment to progressively lower tariff and non-tariff barriers would help improve business confidence and support long-term investment planning.  

“The India–US trade deal is a much-awaited and significant milestone for both nations, unlocking immense opportunities for investments, growth. The flurry of FTAs is an affirmation of India’s role at the centre of global frameworks, aimed at building resilient international trade patterns,” said Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises.  

Sanjiv Puri, Chairman and MD, ITC Ltd. , said, “The historic India-US deal spearheaded by the Hon'ble Prime Minister's vision and laudable global statesmanship signals a new era of co-operation in trade and development between the world's largest democracies. It will spur trade and manufacturing, enhance livelihood opportunities and enable India to take strong strides towards a Viksit Bharat. Coming on the back of the mega agreements between India and EU, UK, New Zealand, Oman, and others, these strategic partnerships have been commendably led by the Hon'ble Commerce Minister, demonstrating India's confidence and ascent in the global economic order as a partner of choice, substance and potential. These deals indeed mark a golden era for India enabling a deeper integration with global value chains.”  

TVS Motor Company  Chairman  Sudarshan Venu also welcomed the development, highlighting its broader strategic impact. “TVS Motor Company welcomes the India-US trade deal announced following the conversation between PM Modi and President Trump. The reduction in the US reciprocal tariff on Indian goods to 18% is a positive step that improves export competitiveness and reinforces confidence in long-term bilateral economic ties, furthering the Hon’ble PM’s vision of Viksit Bharat 2047,” Venu said.  

“Equally important is the intent on both sides to progressively lower tariffs and non-tariff barriers, which can deepen supply-chain integration, enable faster technology collaboration, and attract investment into advanced manufacturing. India has now secured several strategic trade deals with key economic partners around the world. In a challenging global environment, predictability and openness in trade help Indian industry scale, innovate and create jobs. We look forward to a stronger India–US partnership that accelerates growth, expands market access, and supports India’s ambition to be a globally competitive manufacturing and innovation hub,” the TVS chairman added.  

The agreement, announced late Monday night, provides immediate relief to exporters who had been grappling with elevated tariff barriers in the US market. Under the deal, American tariffs on Indian goods have been reduced sharply, a move that industry leaders said would strengthen supply chains and deepen bilateral economic ties.  

US President Donald Trump first announced the deal on his social media platform Truth Social. The development was later confirmed by Prime Minister Narendra Modi following a high-level phone call with the US President. “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,” Modi said.  

According to commerce ministry data, India’s merchandise exports to the US declined 1.83% to $6.88 billion in December 2025 amid high tariffs. Exports had also contracted in September and October, though they rebounded with a 22.61% rise in November. Imports from the US grew 7.57% to $4.03 billion in December.