Gor shared his positive takeaways on X afterward: ‘Great meeting with Foreign Secretary Vikram Misri today. Excellent talks on pushing forward the US-India partnership. Post-trade deal finalization, the future looks bright with abundant opportunities!’

The dialogue builds on a key announcement from the previous week: a framework for an interim trade deal beneficial to both sides. This framework aims to accelerate talks for a landmark bilateral trade agreement, following the White House’s decision to slash import tariffs on Indian goods from 25% to 18%.

According to a joint communique, India and the US have aligned on this interim structure, underscoring dedication to the comprehensive BTA initiated by PM Narendra Modi and President Donald Trump in February 2025. The accord ends a year-long period of trade frictions, marked by the leaders’ February 2 declaration of agreement on trade terms.

Prime Minister Modi celebrated the news on X: ‘Had a wonderful conversation with President Trump. Delighted that ‘Made in India’ products will now face just 18% tariffs. Thank you, President Trump, from all 1.4 billion Indians for this fantastic step.’

Modi highlighted the synergies of two economic giants and democracies joining forces. ‘Our collaboration brings direct benefits to citizens and unlocks vast prospects for win-win partnerships,’ he noted. He lauded Trump’s role in fostering global peace and prosperity, with India pledging unwavering support and anticipation for unprecedented partnership growth.

Experts view this tariff relief as a boon for India’s manufacturing sector, easing access to the vast US market. The Gor-Misri meet signals high-level commitment, setting the stage for expanded trade volumes and strategic alignment amid geopolitical shifts. As negotiations advance, this partnership could redefine economic landscapes for both powers.

Intraday peaks saw Sensex at 85,871.73 and Nifty at 26,341.20, underscoring the deal’s immediate impact. Broader markets shone brighter, with Nifty Midcap 100 and Smallcap indices climbing 4%. Stellar performances came from auto, IT, metal, bank, PSU bank, and pharma sectors, each up over 3%.

Sensex heavyweights dominated gains: Adani Ports rocketed 6.89%, Bajaj Finance 4.90%, IndiGo 4.66%, Bajaj Finserv 4.39%, ITC 4.16%, L&T 3.70%, and Sun Pharma 3.63%. Just one laggard, ITC, posted minor losses amid the frenzy.

President Trump’s Monday revelation reduced reciprocal duties on Indian products from 25% to 18%, easing trade barriers and boosting prospects for exporters. Analysts predict this pact will catalyze economic ties, potentially heralding a new bull phase for Indian markets.