By Admin 
India US Trade Deal: The long pending trade deal between India and America was finally sealed last week. The information about this agreement was first shared by US President Donald Trump on his social media platform Truth Social, after which Prime Minister Narendra Modi confirmed it. President Trump said in his statement that the tariff imposed on India has now been reduced from 50 percent to 18 percent. Since then, questions began to arise as to on what terms this deal was made and what concessions India has given in return.
Piyush Goyal’s statement: No compromise with domestic interests
Union Commerce Minister Piyush Goyal clarified in the press conference on Saturday that this is a historic trade deal, in which India has allowed American products to enter its market only in selected sectors. Goyal said that some American goods have been given duty-free access, but during this period the interests of domestic industries and farmers have been completely protected. According to him, this agreement will give a new impetus to India’s economy and 140 crore people will get direct benefits from it.
In which sectors did America get entry?
Under this deal:
Relief to some US products from duty-free access to wines and spirits with limited adjustments
Cosmetics sector partially opened
Concession on import of some computer and IT related products
Priority for medical equipment like fiberscope and laparoscope
India’s strictness on agriculture sector continues
That is, contrary to initial apprehensions, India has not opened up the entire agricultural sector. No genetically modified (GM) agricultural product coming from America has been allowed to enter India. Apart from this, crops which are produced in abundance in the country have been kept out of tariff exemption. These include: Maize, Rice, Wheat Coarse Grains, Ragi Banana, Citrus Fruits Chickpea, Sugar Soybean and other grains Sensitive sectors completely safe India has also kept sensitive sectors like meat, poultry, dairy products, ethanol and tobacco out of this agreement. It is clear from this that the government has given priority to the protection of domestic farmers and local industries along with increasing trade.
What benefit will Indian exporters get?
This trade deal will open up huge opportunities for Indian exporters in the American market. Many agricultural and horticultural products will get entry into America with zero tariff. These include: Tea, Coffee, Spices Coconut Oil, Vegetable Wax Betel Nut, Chestnut Avocado, Guava, Mango, Kiwi Papaya, Pineapple, Mushrooms Vegetable Roots, Barley Bakery Products, Cocoa Products Sesame and Poppy Extracts Conclusion The zero tariff facility is expected to provide major benefits to Indian farmers, horticulture growers and the food processing sector. Besides, the competitiveness of Indian products in the American market will also be stronger than before.
Also read: India’s economy will run fastest among G-20 countries, predicts this big global rating agency.