Sudarshan Venu, the Chairman of TVS Motor Company, expressed his support for the recent India-US trade deal, which was made possible by talks between Prime Minister Narendra Modi and US President Joe Biden. He highlighted the significance of reducing the US tariff on Indian goods to 18%, calling this a big win for Indian exports.
Venu mentioned that this agreement strengthens the long-term economic relationship between India and the US and supports Prime Minister Modi’s vision for a developed India by 2047. He emphasized the importance of both nations working together to gradually lower tariffs and remove barriers to trade. Doing so could enhance supply chain cooperation, speed up technology sharing, and draw more investments into India’s high-tech manufacturing sector.
Experts believe that trade agreements like this are crucial for global economic growth. In fact, a recent survey showed that 75% of businesses see international trade as essential for their success. Venu noted that India has been active in securing strategic trade agreements worldwide, which provides a stable environment for business growth and job creation.
As India aims to become a hub for advanced manufacturing and innovation, Venu anticipates a stronger partnership with the US that will boost economic growth and open up new markets. This deal reflects a broader trend of collaboration between countries to enhance trade relations and economic stability, particularly in challenging times.
For more information on international trade impacts, check out the World Trade Organization’s latest reports here.
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