Mumbai (Maharashtra) [India], February 3 (ANI): Maharashtra Chief Minister Devendra Fadnavis lauded the announcement of the India-US trade agreement, referring to it as 'a new chapter of friendship' between the two nations.

He added that it would help Maharashtra by providing access to significant investments in cutting-edge technologies, such as artificial intelligence.

Fadnavis took to X, posting, 'A New Chapter of Friendship! The historic trade agreement between India and the United States is truly a victory of the friendship between Hon. Prime Minister Narendra Modi ji and the President of the United States, Donald Trump. This is also an extremely important moment for global trade. India will now receive preferential tariff rates from the United States among the world's major exporting economies. This marks the beginning of a new era in India-US friendship.'

https://x.com/Dev_Fadnavis/status/2018410400103203153?s=20

Highlighting the benefits for Indian businesses, the post added, 'This agreement will open the doors to many new and exciting opportunities for Indian businesses and will prove beneficial for both countries. Maharashtra has always been a leading state in exports. Therefore, this agreement will open new horizons for businesses in our state. Maharashtra will receive significant investment in data centers, artificial intelligence, and revolutionary modern technology.'

The India-US trade deal was announced by Prime Minister Narendra Modi and US President Donald Trump on Monday, where the US reduced the tariffs on India to 18 per cent.

Following the announcement of the deal, Uttar Pradesh Chief Minister Yogi Adityanath hailed the deal as a 'landmark moment' for the economic partnership between India and the United States and on how this deal would subsequently grant Indian products access to a larger global market, which would then provide fresh opportunities for youth and MSMEs.

'A landmark moment for the India-US economic partnership. A major boost to #MakeInIndia, as Indian products will gain wider global market access, creating fresh opportunities for Indian youth and MSMEs. Thank you, Hon. PM Shri @narendramodi Ji, for your decisive and determined leadership in advancing stronger India-US ties. This milestone reflects rising global confidence in Made in India and reinforces India's position as a key driver of global growth,' CM Yogi Adityanath wrote on X.

https://x.com/myogiadityanath/status/2018402479365628371?s=20

Delhi Chief Minister Rekha Gupta also called the deal a 'major outcome', crediting PM Modi for his 'visionary diplomacy'.

'A major outcome of the visionary diplomacy of the successful Prime Minister Shri @narendramodi ji! Following the phone conversation between Prime Minister ji and the US President @realDonaldTrump, the United States has reduced the extra tariff imposed on India to 18%. This decision by America will give new momentum to Indian exports and trade. This is yet another proof of India's growing economic power and strengthening relations on the global stage.'Gupta wrote on X.

https://x.com/gupta_rekha/status/2018416094042857924?s=20

PM Modi on Monday said that it was wonderful to speak with his 'dear friend President Trump' and expressed delight that Made in India products will now have a reduced tariff of 18%.

'Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,' PM Modi said in a post on X.

The Prime Minister said that when two large economies and the world's largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.

'President Trump's leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights,' PM Modi said.

India and the European Union (EU) had on January 27 announced the conclusion of negotiations for a Free Trade Agreement (FTA), an important milestone in one of India's most strategic economic partnerships.

The Ministry of Commerce and Industry had said in a release that the FTA responds to contemporary global challenges while enabling deeper market integration between the world's fourth- and second-largest economies.

'With a combined market estimated at over Rs 2091.6 Lakh Crore (USD 24 trillion), bringing unparalleled opportunities for the 2 billion people of India and the EU, the FTA unlocks significant potential for trade and innovation. The FTA delivers unprecedented market access for more than 99 per cent of India's export by trade value, while preserving policy space for sensitive sectors and reinforcing India's developmental priorities,' the release said. (ANI)