India to import American agricultural, poultry products at lower duty, agreed to resolve WTO dispute with US
When the entire country and the world were keeping an eye on the achievements and success of the G-20 conference, at the same time India decided to open its markets to American agricultural and poultry products. Because of this decision, American farmers will be able to export their agricultural and poultry products to the Indian market on a large scale at concessional import duty rates.
When the entire country and the world were keeping an eye on the achievements and success of the G-20 conference, at the same time India decided to open its markets to American agricultural and poultry products. Because of this decision, American farmers will be able to export their agricultural and poultry products to the Indian market on a large scale at concessional import duty rates.
This has come to light through a statement issued by US Trade Representative (USTR) Katherine Tai in the US two days ago. However, India has not yet released any information in this regard. USTR has said that India and America have succeeded in resolving their disputes that have been going on for many years in the World Trade Organisation (WTO).
Under this agreement, India has agreed to reduce duties on imports of US products frozen turkey, frozen duck, fresh blueberries and cranberries, frozen blueberries and cranberries, dried blueberries and cranberries and processed cranberries and cranberries.
India's reduction in import duty rates on these products will increase opportunities for US products in India's important market.
On this agreement, which will ease the way for India to import American agricultural products, Prof Biswajit Dhar, former professor of Jawaharlal Nehru University, former head of the WTO Center of the Indian Institute of Foreign Trade (IIFT) and distinguished expert in international trade matters, told Rural Voice that this agreement can prove to be very harmful for domestic poultry farmers and other farmers.
He said that India's chances of winning the ongoing dispute in WTO were very weak but there was a need to find some way. This agreement will be beneficial for American farmers and American companies.
The USTR statement said that this announcement is being made on the occasion of the meeting between US President Joe Biden and Indian Prime Minister Narendra Modi on the sidelines of the G-20 meeting in Delhi.
Earlier, during the meeting of G-20 Trade and Investment Ministers between India's Commerce and Industry Minister Piyush Goyal and USTR, it was agreed to quickly resolve the ongoing dispute in WTO between India and America.
USTR has said that the resolution of the WTO dispute is a milestone in trade relations between India and America. India's reduction of import duties on American products will make it easier for American agricultural producers to access India's important market.
The announcement coincides with Prime Minister Narendra Modi's visit to the US in June and the US President's visit to India this week and strengthens the bilateral trade partnership between the two countries.
In June, India and America agreed to end six ongoing disputes in WTO. Under this agreement, India had agreed to reduce customs duty on American products gram, lentils, almonds, walnuts, apples, boric acid and diagnostic reagents.
With the latest agreement, India has agreed to resolve outstanding disputes, open a new chapter in bilateral cooperation with the United States and strengthen trade relations between the two countries.
