India Secures Key Benefits for Farmers in US Trade Agreement

In a strategic move reflective of its prior trade negotiations, India has secured favorable conditions in its latest bilateral trade agreement with the United States, particularly benefiting its agricultural sector. The Government of India announced on Monday that the agreement has been meticulously structured to consider product sensitivity, offering various categories of tariff concessions.

Key elements include immediate and phased duty eliminations, tariff reductions, and stringent mechanisms like tariff rate quotas aimed at safeguarding highly sensitive industries such as meat, poultry, dairy products, and numerous crops and commodities. This exemption category affords protection to crucial sectors while maintaining trade competitiveness.

Minister of Commerce Piyush Goyal highlighted that many Indian agricultural products will face significantly reduced tariffs when exported to the U.S., with specific items such as tea, coffee, and spices enjoying zero tariffs. The minister expressed confidence that Indian farmers and businesses stand to gain substantially without conceding market advantages to U.S. counterparts.