India's Nifty 50 skyrockets 5% as U.S.-India trade deal turbocharges stocks
Donald Trump
India's benchmark Nifty 50 stock index rose 5% on open Tuesday, after New Delhi and Washington announced a long-awaited trade deal that saw a sharp cut in U.S. tariffs on Indian exports. U.S. President Donald Trump on Monday stateside said that U.S. will cut reciprocal tariff on India to 18% from 25%. He added that India will reduce its tariff and non-tariff barriers against the U.S. to zero. The U.S. had levied 50% tariffs on India, including a 25% levy for purchasing Russian oil. Reuters
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