Minutes after US President Donald Trump introduced that India and United States have agreed to a commerce deal, GIFT Nifty futures rose 3.8%.
Minutes after US President Donald Trump introduced that India and United States have agreed to a commerce deal, GIFT Nifty Futures rose 3.8%. The futures contract based mostly on the benchmark Nifty 50 as of 11:21 p.m. was buying and selling 821 factors greater at 25,950.
As well as, US-listed iShares MSCI India ETF hit session highs and was up as a lot as 2.4%. The rupee additionally rallied within the offshore buying and selling because it rose 1% towards the greenback.
Not simply the GIFT Nifty even the New York-listed shares of main Indian info know-how giants Infosys Ltd. and Wipro Ltd. and even banks like HDFC Financial institution and ICICI Financial institution had been buying and selling greater. Whereas Wipro ADR rose 7%, Infosys ADR and HDFC ADR was up over 3%. ICICI Financial institution ADR alternatively was buying and selling 4%.
India and the US have “agreed to a commerce deal”, which is able to scale back the reciprocal tariffs on Indian imports to 18% from 25%, President Donald Trump stated, following a telephone name with Prime Minister Narendra Modi. The commerce deal will likely be “efficient instantly”, Trump stated, signalling fast tariff reduction for India.
Nonetheless, US Embassy instructed NDTV Revenue that the ultimate levy has come all the way down to 18%.
ALSO READ: India, US ‘Agreed’ To Trade Deal; Reciprocal Tariffs Slashed To 18%: Trump After Modi Cellphone Name
“Out of friendship and respect for Prime Minister Modi and, as per his request, efficient instantly, we agreed to a commerce deal between america and India, whereby america will cost a lowered reciprocal tariff, reducing it from 25% to 18%. They are going to likewise transfer ahead to scale back their tariffs and non-tariff boundaries towards america, to zero,” he stated.
Trump’s assertion got here shortly after a telephone name with Modi.
Notably, the 2 sides have been locked in negotiations since early 2025, however the talks derailed after the US slapped tariffs as excessive as 50% on Indian imports in August. After a short pause, the negotiations resumed in October, however the two international locations couldn’t attain the end line.
Representatives of New Delhi and Washington are partaking in “sturdy negotiations”, and stay in common contact because the discussions proceed, the individuals aware of the event added.
The Modi-Trump telephone name additionally comes days after US Treasury Secretary Scott Bessent signalled that half of the tariffs imposed on India—25% levies—might be waived as India has considerably trimmed its import of Russian crude oil.
ALSO READ: India-US Trade Deal Inked: Auto To Textile — Right here Are The Sectors Set To Profit From Decrease Tariffs
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