Agriculture a ‘red line' in trade talks with US, Indian finance minister tells Financial Express
NEW DELHI: India's agriculture and dairy are 'big red lines' in its ongoing trade negotiations with the United States, Indian Finance Minister Nirmala Sitharaman told the Financial Express newspaper in an interview published on Monday.
India and the US are negotiating a trade deal ahead of President Donald Trump's July 9 deadline to impose reciprocal tariffs.
'Agriculture and dairy have been among very big red lines, where a high degree of caution has been exercised,' Sitharaman told the newspaper.
'Yes, I'd love to have an agreement, a big, good, beautiful one; why not?' Sitharaman said, adding that an early conclusion of the trade deal would serve India better.
In the trade talks, the US is pushing for greater access to agricultural goods and ethanol, citing a significant trade imbalance, along with expanded market access for dairy, alcoholic beverages, automobiles, pharmaceuticals and medical devices.
India's finance minister says markets 'well regulated' after Adani storm
Meanwhile, India's auto, pharmaceutical, and small-scale firms are lobbying for a gradual opening of the protected sectors, fearing competition from US firms.
Discussions on the trade deal will address concerns of the automobile and other industries with 'deep consultations,' said Sitharaman.
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NEW DELHI: India's agriculture and dairy are 'big red lines' in its ongoing trade negotiations with the United States, Indian Finance Minister Nirmala Sitharaman told the Financial Express newspaper in an interview published on Monday. India and the US are negotiating a trade deal ahead of President Donald Trump's July 9 deadline to impose reciprocal tariffs. 'Agriculture and dairy have been among very big red lines, where a high degree of caution has been exercised,' Sitharaman told the newspaper. 'Yes, I'd love to have an agreement, a big, good, beautiful one; why not?' Sitharaman said, adding that an early conclusion of the trade deal would serve India better. In the trade talks, the US is pushing for greater access to agricultural goods and ethanol, citing a significant trade imbalance, along with expanded market access for dairy, alcoholic beverages, automobiles, pharmaceuticals and medical devices. India's finance minister says markets 'well regulated' after Adani storm Meanwhile, India's auto, pharmaceutical, and small-scale firms are lobbying for a gradual opening of the protected sectors, fearing competition from US firms. Discussions on the trade deal will address concerns of the automobile and other industries with 'deep consultations,' said Sitharaman.
