New Delhi, Feb 3 : Union Defence Minister Rajnath Singh on Tuesday hailed the India-US trade deal and said that it will open a new phase of "deeper and greater cooperation" between the two nations.

In a post on X, Singh said, "A landmark moment for India-US relations as a historic trade deal has been finalised, bringing tariffs down to a significantly lower 18 per cent and opening a new chapter of deeper and greater economic cooperation."

Congratulating Prime Minister Narendra Modi and US President Donald Trump on reaching a "decisive agreement", the Defence Minister said that it will "significantly strengthen our strategic partnership and deliver tangible benefits to both the countries and their people."

"With this agreement, Indiaâ??US economic ties are set to reach new heights," he added.

Earlier on Monday, Trump said a phone call with Prime Minister Narendra Modi led to the deal, cutting US tariffs on Indian goods to 18 per cent and easing Indian trade barriers on US products.

Trump said India would also stop buying Russian oil and increase purchases of US energy, technology and agricultural products. He said the agreement would strengthen ties between the two countries and support efforts to end the war in Ukraine.

PM Modi also took to X and said, "Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18 per cent. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement."

He said that when two "large economies" and the "world's largest democracies" work together, "it benefits our people and unlocks immense opportunities for mutually beneficial cooperation".

Hailing President Trump's "leadership" in advocating for global peace, stability, and prosperity, the Prime Minister said, "India fully supports his efforts for peace".

"I look forward to working closely with him to take our partnership to unprecedented heights," PM Modi added.

/IANS