India-US Trade Deal Could Boost GDP Growth to 7.4%, Says CEA Nageswaran
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News18•03-02-2026, 15:19
India-US Trade Deal Could Boost GDP Growth to 7.4%, Says CEA Nageswaran
- •Chief Economic Adviser V Anantha Nageswaran stated that lower tariffs from the India-US trade deal could push India's GDP growth closer to 7.4%.
- •Nageswaran's initial assessment suggests the deal could significantly improve growth prospects, exceeding the 6.8%-7.2% projected in the Economic Survey.
- •The trade agreement involves the US lowering reciprocal tariffs on Indian goods to 18% and removing a 25% penalty related to Russian oil purchases.
- •In return, India will reduce its tariffs on US products to 0%, fostering improved market access and a predictable trade environment.
- •Nageswaran highlighted that the deal removes a major hurdle for foreign capital inflows, restoring momentum to the "China+1" strategy.
Why It Matters: The India-US trade deal, with reciprocal tariff cuts, is projected to significantly boost India's GDP growth to 7.4%.
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