Will boost FDI, FII, strengthen rupee, says EAC-PM chairman
Chairman of Economic Advisory Council to the Prime Minister (EAC-PM) S Mahendra Dev
New Delhi: The Indo-US trade deal will boost FDI as well as portfolio investments in the country, having a positive impact on the value of rupee, Chairman of Economic Advisory Council to the Prime Minister (EAC-PM) S Mahendra Dev said on Tuesday. India and the US agreed on a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent, lower than that for countries like China, Bangladesh and Vietnam. US President Donald Trump made an announcement regarding the trade deal on Monday after a phone conversation with Prime Minister Narendra Modi. Dev, in an interview to PTI Video, said the trade deal announcement is a “huge one” for India in several ways as some of the labour-intensive manufacturing sectors, like textiles and gems and jewellery, will benefit.
