State Bureau, Lucknow. India-US bilateral trade agreement will increase exports of Uttar Pradesh. Most of the products are exported from Uttar Pradesh to America.
In the year 2023-24, exports worth Rs 32,490 crore were exported from Uttar Pradesh to America. It is likely to increase further due to bilateral agreements.
Regarding bilateral agreements, Chief Minister Yogi Adityanath has said that the trade tariff agreement between India and America is the result of the efficient leadership of Prime Minister Narendra Modi.
Under this agreement, the provision of reducing US tariffs on Indian products from an average of 50 percent to 18 percent and zero in select categories will promote labor-intensive industries, MSMEs and cluster-based manufacturing.
Its impact will not be limited only to business figures, but will also affect the textile industry, leather industry, agro-based industries, MSME, carpet, industrial manufacturing, IT, electronics, data centers and agro-based industries in which Uttar Pradesh's participation is prominent at the national level.
Regarding this agreement, Federation of Indian Export Organizations (FIEO) President SC Ralhan says that units related to home decor and handicrafts in areas like Meerut, Saharanpur, Moradabad, Bulandshahr and Gautam Buddha Nagar have been active in exports for a long time.
Their competitive position in the US market has been limited due to high tariffs and cost pressures. The reduction in tariff will reduce the total export cost of these products, which will benefit the exporters.
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