The U.S. and India have finalized a trade deal on Monday after months of negotiations, steadying a relationship that had plummeted to its lowest point in decades.

According to a Reuters report, India has agreed to purchase petroleum, defence equipment and aircraft from the United States, while also partially opening its tightly regulated agriculture sector under a trade agreement.

The response from India Inc suggests that the trade deal is being read less as a one-off tariff concession and more as a signal of India’s maturing role in global commerce.

President Donald Trump announced on Monday that the United States and India reached a trade agreement, which will lower the tariff rate on goods coming into the U.S. to 18 percent. In exchange, Indian Prime Minister Narendra Modi has agreed that his country will stop buying Russian oil and will make a $500 billion investment in various U.