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President Trump said India has made an offer to drop tariffs on US goods as part of ongoing trade negotiations.
India’s equity benchmarks jumped about 1.5 percent following Trump’s comments. The Nifty 50 edged up 1.6 percent while the BSE Sensex gained 1.48 percent, reaching their highest levels in seven months.
India was one of the first countries to begin trade negotiations with the US following Prime Minister Narendra Modi’s visit to the White House in February, with both sides agreeing to finalise a bilateral deal this year.
Last month, meanwhile, US Vice President JD Vance visited India and met with Prime Minister Narendra Modi, hailing what he called “very good progress” on a trade agreement between Washington and New Delhi.
