Will Modi’s Trade Deals Be a Turning Point for India’s Markets?

Investors in Indian assets rejoiced at the surprise news that Prime Minister Narendra Modi had finally reached a deal with President Donald Trump on trade. Stocks jumped the most since 2021, while the rupee posted its biggest gain in three years.

The agreement, announced by Trump on social media, has been dubbed by some in India as the “father of all deals” — coming just days after India struck a free trade deal with the EU that European Commission President Ursula von der Leyen called the “mother of deals.”