India, Feb. 21 -- The interim trade framework between the largest economy in the world, the USA, and the fastest-growing economy, India, is set to be a game-changer and a historic trade deal. It marks an initial step towards a Bilateral Trade Agreement (BTA) between the two major economic powers. The framework will boost exports from labour-intensive Indian sectors such as textiles, footwear, plastics and smartphones. The India-US trade deal will cut tariffs on 60per cent of Indian exports to the US and includes provisions for zero tariffs on multiple items entering the US market. This will provide India access to the $30 trillion US market with lower tariffs than competing countries.

India will gain a competitive edge as the US has lowe...