Indian Automakers Rally on US-Japan Trade Deal Optimism

Indian automakers, including

s, indra, Suzuki, Bajaj Auto, and Hyundai Motor India, surged up to 3% intraday, fueled by optimism surrounding a US-Japan trade deal. The rally mirrored gains in Japanese auto giants like Toyota, Honda, and Nissan, which drove a 2% rise in the Nikkei index. A Reuters report indicated the deal includes a tariff reduction on Japanese autos from 25% to 15%, boosting Japan’s significant auto exports to the US. Despite earlier delays, expectations for a US-India trade deal remain strong, with investors and governments hopeful for progress in the coming weeks.