India’s exports to get further boost: Sitharaman on U.S. tariff cut announcement

India’s exports will increase further, Union Finance Minister Nirmala Sitharaman said in the government’s first comments after the US tariff reduction announcement on Tuesday, February 3, 2026.

In an interview with PTI In the videos, Ms Sitharaman said the tariff announcement, in which India’s exports to the US would be subject to a lower tariff of 18%, was a “good omen” for India.

US President Donald Trump said in a statement after his phone call with Prime Minister Narendra Modi on Monday, February 3, that India and the US agreed on a trade agreement in which Washington will reduce mutual customs duties on Indian goods to 18%.

Details of the deal are still awaited.

Taken together with new markets, “exports will now pick up”, Ms Sitharaman said.