American goods ranging from wines and spirits to dry fruits will enter India either duty-free or at reduced import tariffs, a move expected to make these imports cheaper for domestic consumers.
India and the US on Saturday announced that they have reached a framework for the first phase of the bilateral trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade.
The framework will be converted into a legal agreement, which is expected to be signed by mid-March. The duty concessions will take effect on the day of implementation.
According to a joint statement, India will eliminate or reduce tariffs on all US industrial goods and a wide range of American food and agricultural products, including dried distillers’ grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, and wine and spirits.
The other US goods which will enjoy duty concession by India include walnuts, almonds, pistachios, and some …​American goods ranging from wines and spirits to dry fruits will enter India either duty-free or at reduced import tariffs, a move expected to make these imports cheaper for domestic consumers.
India and the US on Saturday announced that they have reached a framework for the first phase of the bilateral trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade.
The framework will be converted into a legal agreement, which is expected to be signed by mid-March. The duty concessions will take effect on the day of implementation.
According to a joint statement, India will eliminate or reduce tariffs on all US industrial goods and a wide range of American food and agricultural products, including dried distillers’ grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, and wine and spirits.
The other US goods which will enjoy duty concession by India include walnuts, almonds, pistachios, and some … ​Latest News [ SOBAN NEWS: International and National ]
