New Delhi, Feb. 5 -- India and the United States are entering a new phase of closer bilateral ties, marked by a historic trade deal and expanding strategic cooperation, the Ministry of External Affairs (MEA) said here on Thursday.
The ministry said Prime Minister Narendra Modi noted that products made in India would be exported to the United States at reduced tariffs under the agreement.
Foreign ministry spokesperson Randhir Jaiswal said the deal was expected to provide a major boost to India's labour-intensive industries, create new jobs and support economic growth. The US side has clarified that the final tariff rate under the agreement will be 18 per cent, he said.
Jaiswal said, "The Prime Minister had a teleconference with President ...