Ahead of US President Joe Biden’s visit to New Delhi to attend the G20 Summit, India has eliminated additional duties on about half a dozen US products, together with chickpeas, lentils and apples. India had raised import duties on 28 US products in June 2019, after the United States had elevated its customs duties on certain metal and aluminium products.
In a notification issued on September 5, the Finance Ministry knowledgeable in regards to the removing of duties on the products, together with chickpeas, lentils (masur), apples, walnuts in shells and almonds recent or dried, in addition to almond shelled.
US President Joe Biden to visit India
The transfer comes ahead of US President Joe Biden’s visit to India to attend the G20 Summit on September 9-10, which might be preceded by a bilateral assembly with Prime Minister Narendra Modi on Friday.
During Prime Minister Narendra Modi’s State visit in June 2023, PM Modi and the Biden administration had agreed to terminate six bilateral commerce disputes that had been pending on the World Trade Organisation (WTO) and likewise take away the retaliatory tariffs on certain US products. As half of the settlement, India will probably be eradicating additional obligation on chickpeas (10 per cent), lentils (20 per cent), almonds recent or dried (Rs 7 per kg), almonds shelled (Rs 20 per kg), walnuts (20 per cent), and apples recent (20 per cent).
US largest buying and selling associate of India
In July, Minister of State for Commerce and Industry Anupriya Patel in a written reply to the Rajya Sabha had mentioned the federal government has determined to take away retaliatory customs duties on import of almonds (recent or dried, in shell), walnuts, chickpeas, lentils, apples, medical diagnostic reagents, and boric acid.
The removing of retaliatory tariffs or cuts in import obligation with the US didn’t lead to a loss to India, she had mentioned. Notably, the US is the most important buying and selling associate of India. In 2022-23, the bilateral items commerce elevated to USD 128.8 billion as in opposition to USD 119.5 billion in 2021-22.
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(With PTI inputs)
