The India-US bilateral trade agreement (BTA) announced last night by US President Donald Trump and confirmed by Prime Minister Narendra Modi immediately sent the GIFT Nifty on an upward trajectory. The immediate positive sentiment is understandable. This deal was more than a year in the making. The US imposed tariffs of 50% on Indian products were hurting exports to the US. Beyond this the US tilt towards Pakistan during and after Operation Sindoor muddied the evolving strategic partnership between India and US.
