Farmers Protected; US Cuts Tariffs on Several Agri Products to 0%: Chouhan
-Bhopal: The framework of the trade deal with the US will not harm Indian farmers, Union Agriculture Minister Shivraj Singh Chouhan said on Sunday, adding that the US has reduced customs duties on many Indian agricultural exports to zero.
He said the interests of Indian farmers are fully protected in the trade deal and no major crops, fruits, dairy products or spices are opened for American imports. While the deal reduces tariffs on Indian goods in the US to 18 percent, Washington claims this will help export more agricultural products to India.
Addressing a press conference in Bhopal, Chouhan said Prime Minister Narendra Modi has ensured that the interests of the country and farmers are protected. He added that agricultural products that could affect farmers were excluded from the agreement.
He announced that no tariff concessions are given on products such as soybeans, corn, rice, wheat, sugar, grains, poultry, dairy products, bananas, strawberries, cherries, green peas, pulses, oilseeds, ethanol and tobacco. No liquid or processed dairy products, including butter, ghee, paneer or cheese, will be imported from the US, and Indian spices will continue to be protected.
Chouhan said that the US increased exports by reducing customs duties on various Indian agricultural products from 50 percent to zero, while India did not make similar concessions on American agricultural products. He added that spice exports have increased significantly and the agreement will also benefit women in self-help groups.
He noted that India has signed nine Free Trade Agreements under Prime Minister Modi’s leadership and more are being discussed, and described them as milestones towards building a “Viksit Bharat” and a self-reliant India by 2047.
Subject to the successful conclusion of the interim agreement, the United States will also eliminate reciprocal tariffs on a wide range of goods, including generic drugs, gems and diamonds, and aircraft parts.
