Ludhiana, Feb. 4 -- Industry leaders across the manufacturing, engineering, and pharmaceutical sectors have welcomed the US decision to reduce tariffs on Indian imports to 18 per cent, calling it a positive signal for bilateral trade and exports.

KK Seth, chairman of the Fastener Industry Cluster (FICO), said the move would strengthen trade relations between India and the US and open fresh opportunities for exporters. He added that export-oriented sectors such as engineering goods and fasteners will benefit significantly from lower tariff barriers.

"This will enhance the competitiveness of Indian products in the global market and support industrial growth," Seth said, while urging early implementation of the revised tariff and expressed...