India lifts tariff on some US goods ahead of G20 summit, Modi-Biden meeting
G20 Summit. The event on September 9-10 will be preceded by a bilateral meeting with Prime Minister Narendra Modi.
During Prime Minister Modi's state visit to the US in June, both nations had agreed to settle six WTO disputes and eliminate retaliatory tariffs on specific US products. As part of this agreement, India will be scrapping additional duties on chickpeas (10%), lentils (20%), fresh or dried almonds ( ₹7 per kg), shelled almonds ( ₹20 per kg), walnuts (20%), and fresh apples (20%).
In July, Minister of State for Commerce and Industry Anupriya Patel stated in a written response to the Rajya Sabha that the government had chosen to abolish retaliatory customs duties on the import of fresh or dried almonds (in shell), walnuts, chickpeas, lentils, apples, medical diagnostic reagents, and boric acid. It was clarified that these changes in tariffs did not result in any financial loss for India.
The United States is India's largest trading partner, with bilateral goods trade reaching USD 128.8 billion in 2022-23, up from USD 119.5 billion in 2021-22. (With inputs from agencies)
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