India US Trade Talks: This can be a relief news for India. The long wait for a trade deal between India and America, which is facing high American tariffs, may now end soon. mint According to the report, the American tariff imposed on Indian goods can be reduced by 15 to 16 percent. At present, about 50 percent US duty is being imposed on goods imported from India.

According to the report, the main focus of the proposed agreement between America and India is on energy and agriculture sectors. Also, Washington, which is trying to reduce global dependence on oil supplies from Russia, is trying to get India to gradually reduce its purchases of oil from Moscow. Discussion is also going on on this issue.

India-America trade deal in final round

The talks between the two countries mainly focus on increasing mutual cooperation in the energy and agriculture sectors. Both these areas were at the center of attention in earlier talks also. mint Quoting officials related to the matter, it has been said that the talks have now reached the final stage and an agreement can be reached before the ASEAN summit to be held at the end of this month. Along with this, there is also a possibility of a formal announcement.

However, neither the Indian Commerce Ministry nor the White House has given any official response in this regard so far.

Emphasis on agriculture and energy

Under the agreement, India may allow increased imports of some American agricultural products — such as non-genetically modified corn and soymeal. This may put an end to the long running dispute regarding access of American products to the Indian agricultural market.

In return, the US tariff rates imposed on Indian goods can be reduced by about 15 to 16 percent. This cut will make Indian products, especially textiles, medicines and engineering goods, more competitive in the US market.

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