By Admin 
India-Meerica Trade Talk: After Donald Trump became the President of America, there is a fierce fierce worldwide tariff war. Indo-US and America are also talking on trade. Amidst all this, the Government of India is considering reducing import duty on Harley-Davidson Motorcycle, Borbon Whiskey and California wine under the ongoing trade talks with the US.
India Today, in a report, quoting sources said that the two countries are negotiating to reduce tariffs on certain products as well as promote business relations. Earlier, the government had reduced the import duty on Harley-Davidson motorcycles from 50 percent to 40 percent. Now discussion is going on to reduce the tariff, so that these premium bikes in the market will be more cheaper.
Import duty reduced on American whiskey
Similarly, the import duty on Borbon Whiskey was reduced from 150 per cent to 100 per cent in the past and the authorities are now considering another cut in it to make the trade between the two countries more smooth. Also, Californian wine is also part of this conversation.
Negotiations between Indo-US on these issues also
Trade talk is not limited to bikes and whiskey. Officials are also discussing the expansion of American exports of drug products and chemicals to India. The US is keen to increase its market share in India’s growing pharmaceutical field, while India is trying to ensure favorable terms for its exports to the US.
In recent years, there has been a change in import of India’s drug products from America. Import in 2020-21 stood at Rs 2,26,728.33 lakh, which increased by 78.8 percent to Rs 4,05,317.35 lakh in 2021-22. However, imports declined by 27.5 percent to 2,93,642.57 lakhs in 2022-23. In 2023, this trend changed again, imports increased by 10.8 percent to Rs 3,25,500.17 lakh.
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