India’s exports to get further boost: Sitharaman on U.S. tariff cut announcement

In a first comment by the government following the U.S. tariff cut announcement, Union Finance Minister Nirmala Sitharaman on Tuesday (February 3, 2026) said that India’s exports will get a further boost.

In an interview with PTI Videos, Ms. Sitharaman said the tariff announcement, in which Indian exports to the U.S. will attract a lower 18% tariff, is a “good auguring” for India.

India and the U.S. have agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18%, U.S. President Donald Trump said on Monday (February 3) after a phone conversation with Prime Minister Narendra Modi.

India-U.S. trade deal LIVE

The details of the deal are still awaited.

Ms. Sitharaman said taken together with the new markets, “exports will pick up now”.