India–US Trade Deal a Milestone For Global Economic Stability: CM

: Prime Minister N. Chandrababu Naidu on Tuesday termed the India-US trade deal as a historic milestone that will significantly strengthen global economic stability.

Congratulating Prime Minister Narendra Modi for successfully concluding the landmark agreement, Naidu said that the agreement will further deepen the ties between the world’s two largest democracies.

Calling it a far-sighted decision that will support sustainable global growth, the CM expressed confidence that India will emerge as a stronger global economic power under Modi’s leadership.

Naidu said the agreement will create far-reaching opportunities for the youth and farmers of Andhra Pradesh, especially through increased trade and investment flows.

Echoing similar sentiments, Deputy Prime Minister K. Pawan Kalyan also congratulated the prime minister and noted that the signing of two major global trade agreements within a week has given a new impetus to the national economy. Referring to the recent pact with the European Union as the “mother of all deals,” he said the agreement New Delhi now finalized with the US would further reinforce India’s economic future.

Pawan Kalyan said that reducing the US customs duty from 25 percent to 18 percent will provide significant relief to farmers, and the increase in exports can translate into better incomes. He thanked the Prime Minister for taking timely and decisive steps in line with the wishes of the people.

Education minister N. Lokesh described the agreement as a “big win for India”, stating that the tariff reduction will increase exports and production. Andhra Pradesh’s seafood exports, MSMEs, agricultural exports and emerging manufacturing hubs will directly benefit India and AP. He praised the negotiating teams, the ministries of commerce and industry, and the leaders of both countries for the breakthrough.

Terming the cut in US taxes as a “game changer” for India’s economic growth, Telugu Desam Rajya Sabha MP Sana Satish Babu on Tuesday said the development marks yet another historic economic achievement under the leadership of Prime Minister Modi.

The MP said the India-US trade deal is a new testament to Prime Minister Modi’s visionary leadership. “India currently has one of the lowest tax rates among Asian countries; he felt that this move would significantly increase the global competitiveness of ‘Made in India’ products in international markets.

Satish Babu expressed happiness over the significant benefits this will bring to Andhra Pradesh, especially the coastal regions. Aquatic and seafood products exported from Kakinada will provide easier access to global markets.

“This will provide economic security and renewed hope to thousands of fishermen, shrimp farmers and exporters,” the MP said.