The Indian government announced duty concessions for select American products as part of an interim trade deal with the United States. Union Commerce Minister Piyush Goyal highlighted that while certain US goods will benefit from reduced tariffs, sensitive sectors like agriculture and dairy remain protected.
The Centre on Saturday released a list of American products that will receive duty concessions under the recently agreed India–US interim trade deal. Speaking at a press conference, Union Commerce Minister Piyush Goyal said India has agreed to open its market to certain US goods, including Distiller’s Dried Grains with Solubles (DDGS) and wines and spirits. He added that while tariffs have been eased, a minimum import price has been set for some of these items to regulate inflows. Goyal said India will extend duty concessions on several US products, while keeping sensitive sectors such as agriculture and dairy fully safeguarded. He added that the United States will receive quota-based duty concessions on soybean oil.
What Piyush Goyal Said?
The minister said that sensitive areas such as agriculture and dairy have been completely safeguarded under the deal. He clarified that items including milk, cheese, wheat, rice, maize, soy, poultry, fuel ethanol, tobacco, certain vegetables and meat will not be given any duty concessions. Emphasising India’s self-reliance, Goyal added that all products in which the country is “aatma nirbhar” have been kept outside the agreement.
Goyal said the deal is expected to create gains for farmers, MSMEs, artisans and craftsmen, while also strengthening the government’s “Make in India” push. His remarks follow a joint statement by India and the United States on the proposed trade agreement, which is likely to be signed in the coming days.
Goyal said the deal is expected to create gains for farmers, MSMEs, artisans and craftsmen, while also strengthening the government’s “Make in India” push. His remarks follow a joint statement by India and the United States on the proposed trade agreement, which is likely to be signed in the coming days.
“The 50% reciprocal tariff has been reduced to 18% which is less compared to our neighboring countries, and will provide a lot of help to our exporters. The deal brings new hopes and opportunities in India’s growth story,” Goyal said.
“Agricultural products from Indian farmers will be exported to the United States at zero duty. At the same time, no tariff concessions have been granted for agricultural products from US farmers entering the Indian market,” Goyal said.