Govt plans to seek inputs on potential tariff & policy adjustments for greater market access for US goods, services
Subscribe to enjoy similar stories. New Delhi: The Centre will shortly tap various ministries for inputs on tariff and policy tweaks to enhance market access for American goods and services ahead of upcoming trade talks with the US, four people aware of the plans said. The changes will aim to support US companies, educational institutions, and research in sectors such as space, agriculture, pharmaceuticals and high-value manufacturing.
The commerce ministry, which will steer negotiations for the India-US Bilateral Trade Agreement (BTA), will soon send out a checklist to the ministries of defence, electronics and information technology, consumer affairs, agriculture, education, mines, steel, heavy industries, science and technology, and labour, the people cited above said on the condition of anonymity. The exercise aims to align New Delhi's tariffs better with the US duty structure, they said. "A checklist identifying products for tariff balancing would be sent to various ministries.
Their inputs will play a key role in discussions with US authorities during negotiations on the terms of reference for the BTA," one of the four people cited above said. The plan aims to address US concerns over high tariffs on certain product lines to create a more balanced trade environment. India is also pushing for mutual tariff reductions in the upcoming BTA, as reported by Mint.
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