India-US Trade Deal: A Historic Step for Economy, Says CII Official

CII's Satish Mitruka calls the new India-US trade framework a historic milestone, crucial for India's economy as the US is its top export market. The deal will boost 'Make in India' and significantly benefit the premium tea export industry.

The framework for a bilateral trade agreement between India and the United States marks a major milestone for the Indian economy. Satish Mitruka, the Chairman of the CII North Bengal Zonal Council and a prominent tea industrialist, describes the deal as a critical step forward because the United States is currently India's top export destination. He explains that nearly 18 per cent of everything India sells abroad goes to the American market. "It is a historic agreement regarding trade with USA because India is the largest exporter to USA in terms of export," Mitruka told ANI.

This agreement is expected to play a vital role in supporting the government's goal to increase local production. Mitruka believes that the trade deal fits perfectly with the national focus on manufacturing. He notes that the new Union Budget has already placed a high priority on the export sector. Speaking on the impact of the deal, he said, "it will also give boost to our Make in India products."

Boost for the Tea Industry

The tea industry is set to benefit significantly from this development. Mitruka points out that India exported about 17 billion kg of premium tea to the USA in the 2024-25 period. He highlights that high-quality teas like Darjeeling tea are in high demand in the US, Europe, and Japan. He mentioned, "For tea is also very good news because in 2024-25 India exported around 17 billion kg of premium tea to USA. So tea values most, especially Darjeeling tea."

The timing of the deal is especially important due to current weather challenges. Mitruka explains that there has been a lack of rain since last October, and the "first flush", or the first harvest of the season, is about to begin. These early teas are the most expensive and are usually sent to international markets. He stated, "first class teas are usually exported to USA, Europe and Japan... we expect that more teas will go to USA and we get a good price of the limited production we are making."

Supporting Darjeeling Tea Sector

Beyond just selling tea, the industry is a major source of foreign money for the country. Mitruka believes the trade deal will bring much-needed support and respect to the workers and owners in the Darjeeling tea sector. He noted, "Sure tea industry will get a bit because Darjeeling tea is mostly exported and if you have it is a foreign exchange revenue for India."

Part of a Larger Economic Vision

Finally, Mitruka sees these trade efforts as part of a larger plan to grow the Indian economy. He notes that the government is working hard to move India from the fourth-largest economy to the third-largest in the world. He said, "Prime Minister is working day and night to make India a third-largest economy in the world from the current fourth. So all these steps are taken for the benefit of the economy of India."

(ANI)

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