New Delhi, Feb. 7 -- Industry chambers FICCI and PHDCCI have hailed the India-US trade deal framework agreement, asserting that it will pave the way for expanding market access for exporters in both countries.

"This interim tariff agreement marks a significant development in U.S.-India trade relations, potentially expanding market access for exporters in both countries and providing a stable and comprehensive trade framework," said Ranjeet Mehta, CEO and Secretary General, PHDCCI, in a statement.

The US and India have today announced a joint statement that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (interim agreement), and have agreed to a framework.

"The India-US trade dea...