Shares of Avanti Foods and Apex Frozen jumped as much as 14% following reports of a potential breakthrough in India-US trade relations. The anticipated deal is expected to significantly boost bilateral trade and strengthen economic and strategic ties between the two nations.
According to sources, the United States is prepared to reduce tariffs on Indian exports from around 50% to 15–16%, in exchange for India gradually reducing its dependence on Russian crude oil. If finalized, this would be the most substantial trade agreement between India and the US in recent years, after a long period of stalled negotiations and tariff disputes.
The trade deal is expected to be formally announced during a meeting between US President Donald Trump and Indian Prime Minister Narendra Modi, possibly at the upcoming ASEAN summit later this month.
Key Highlights of the Proposed India-US Trade Deal:
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Tariff Relief: The US would provide reduced tariffs for Indian goods such as textiles, pharmaceuticals, and engineering products.
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Market Access: India would offer greater access to select US agricultural exports, including corn and soymeal.
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Strategic Cooperation: Both countries are exploring collaboration in clean energy and critical technology supply chains.
US President Donald Trump commented on the growing partnership, stating, “I spoke to PM Modi. We have a very good relationship. India is not going to buy much oil from Russia. PM Modi wants to see that war end as much as I do. India has cut Russian oil purchases way back and will continue cutting.”
