India-US Zero-Duty Deal: Paving the Way for Expanded Trade Opportunities

Deepak Shetty, CEO of JCB India and president-designate of the Indian Construction Equipment Manufacturers' Association, highlighted how a zero-duty agreement between India and the US could level the playing field for businesses, addressing challenges posed by US tariffs.

The CEO emphasized that eliminating US tariffs would bolster Indian competitiveness in the American market, particularly for construction equipment. Reports indicate India's willingness to reduce duties to zero on 60% of tariff lines under the Bilateral Trade Agreement's initial phase.

Shetty expressed confidence in expanding Indian exports to the US through current Free Trade Agreements (FTAs) and noted similar opportunities with recent UK trade advancements. As India targets USD 1 trillion in exports for 2025-26, Shetty affirmed increased contributions from the construction equipment sector.

(With inputs from agencies.)