India-US trade deal complements India's manufacturing push under the PLI schemes, supports export diversification, and advances its goal of moving up the global value chain, says a report by Axis Direct. For the US, India represents a large and dependable market, as well as a strategic manufacturing alternative in key sectors. The report noted that for Indian markets, "the deal aligns well with its manufacturing push (PLI schemes), export diversification strategy, and ambition to move up the global value chain. For the US, India offers a large, reliable market and a strategic manufacturing alternative in critical sectors."