Latest news with #USTradeRegime
The Print
03-07-2025
- Business
- The Print
India-US trade talks in final stages, withdrawn NITI Aayog paper shifts focus to GM soybean, corn
Several additional recommendations were made in the working paper, including lowering duties on non-sensitive US imports like almonds and apples that do not threaten domestic farmers. Medium- and long-term reforms were also encouraged, specifically improving logistics, post-harvest infrastructure, warehousing and cold chains. Published in May, the working paper titled 'Promoting India-US Agricultural Trade under the new US Trade Regime' invited backlash from several farmers' groups including the Bhartiya Kisan Union (BKU) and the RSS-affiliated Bharatiya Kisan Sangh (BKS), particularly over the suggestion of importing genetically modified (GM) soybean and corn for oil extraction. New Delhi: Less than a month after its publication, a working paper on India-US trade by government think tank NITI Aayog batting for agricultural concessions to America has been quietly withdrawn. 'Our main contention is the importing of GM food,' BKS general secretary Mohini Mohan Mishra told ThePrint Wednesday, emphasising that India prohibits the import of genetically modified food without specific approvals. 'In August 2020, the Food Safety and Standards Authority of India (FSSAI) issued a notification stating that all imported food should have a non-GM sourced certificate. So, the paper's suggestion is essentially illegal,' he added. The working paper provided an assessment of India's agricultural trade relationship with the US amid President Donald Trump's announcement of reciprocal tariffs. Historically, India has maintained a trade surplus in agriculture with the US, but the importance of it in bilateral trade is reducing. India and the US are trying to hammer out a trade agreement before 9 July, which is the deadline for country-specific reciprocal tariffs. Currently, an Indian delegation is in Washington for negotiations. On Tuesday, Trump without going into the specifics said the US and India will soon finalise a trade deal with 'much lower tariffs'. Authored by economists Ramesh Chand and Raka Saxena, the NITI Aayog working paper suggested both concessions on the import of soybean oil from the US and the import of soybean seed— a GM crop—for extracting oil for domestic consumption. The residue from this extraction would be exported overseas where this is a demand, while also avoiding the infiltration of genetically modified food in the domestic market. 'The second point is that if the government's direction is to be self-sufficient in edible oil, then how can you import it,' Mishra said, adding that the government needs to fix procurement or give incentives to farmers to achieve this self-sufficiency. 'Its possible, you just need a policy in place to achieve this.' Mishra went on to recall that the government had earlier reduced the import duty on palm oil. The influx of imported palm oil resulted in a domestic price reduction, further discouraging farmers from producing more oil, he said. 'These policies are contradictory in nature, to the government's own vision of self-sufficiency.' A NITI Aayog official told ThePrint on condition of anonymity that 'due to some limitations observed in the analysis, the paper was withdrawn by the authors a couple of days back and the same is mentioned in the NITI portal where this paper was loaded'. The working paper also analyzed trade trends, key export and import commodities (shrimp, rice, honey, and nuts), competitiveness metrics, tariff and non-tariff barriers, and the structural shifts in agri-trade patterns. On Monday, Congress media in charge Jairam Ramesh flagged that NITI Aayog had withdrawn 'this innocuous looking paper' on India US agri trade. Mishra took the opportunity to further question the government, stating that the goal is to create a 'level-playing field' in the international market, but the reality of farmers in India and the US were vastly different. 'In the US, if the minimum landholding of farmers is 1,000 hectares, here 80-90 percent of farmers have less than 1 hectare of land,' he said, clarifying that the Rs 6,000 import subsidy under the Narendra Modi government was helpful, but it should be doubled. 'If the government's aim is self-sufficiency, why is NITI Aayog contradicting this?' (Edited by Tony Rai) Also Read: Families inherit old paper shares and get caught in red tape nightmare. Consultants step in
The Print
09-06-2025
- Business
- The Print
India will protect farmers' interest in US trade talks: Shivraj Singh Chouhan
He was responding to a query on how India would safeguard farmers amid US pressure for greater market access for American agricultural and horticultural products. 'Our priority is to protect the interest of our farmers. India will not work closing its eyes. We will assess our gains and losses. Keeping that in mind, an agreement will be finalised,' Chouhan told PTI in an interview. New Delhi, Jun 8 (PTI) India will prioritise protecting its farmers' interests while assessing potential gains and losses in the ongoing trade negotiations with the United States over agricultural market access, Agriculture Minister Shivraj Singh Chouhan said. The negotiators are expected to agree on the framework for the broad contours of the first phase of the bilateral deal, expected to be signed by fall (September-October) 2025. 'The discussions are ongoing between India and the US. One thing is clear, we will protect the interest of our farmers. When we talk about two nations, we need to see the overall trade,' the minister added. According to a NITI Aayog report, 'Promoting India-US Agricultural Trade under the new US Trade Regime', the value for US agriculture and allied product exports to India was about USD 2.22 billion in the triennium ending 2024. In the same period, India exported USD 5.75 billion worth of agricultural products to the US. India's main agricultural exports to the US include frozen shrimp, basmati rice, spices, processed cereals, and other value-added products. The US wants to export more agricultural products such as corn, soybeans, and animal feed, but faces high Indian tariffs — especially in agriculture, where average tariffs can reach up to 39-50 per cent. The minister's comments come as India and the US continue negotiations on expanding agricultural trade, with Washington seeking reduced tariffs and improved market access for its farm products in the Indian market. India is cautious about fully opening its agriculture and dairy markets due to concerns about potential backlash from rural communities and the need to protect domestic producers from global price volatility. PTI LUX TRB TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
&w=3840&q=100)
Business Standard
08-06-2025
- Business
- Business Standard
India will protect farmers' interest in US trade talks: Agri min Chouhan
The negotiators are expected to agree on the framework for the broad contours of the first phase of the bilateral deal, expected to be signed by fall (September-October) 2025 Press Trust of India New Delhi India will prioritise protecting its farmers' interests while assessing potential gains and losses in the ongoing trade negotiations with the United States over agricultural market access, Agriculture Minister Shivraj Singh Chouhan said. "Our priority is to protect the interest of our farmers. India will not work closing its eyes. We will assess our gains and losses. Keeping that in mind, an agreement will be finalised," Chouhan told PTI in an interview. He was responding to a query on how India would safeguard farmers amid US pressure for greater market access for American agricultural and horticultural products. The negotiators are expected to agree on the framework for the broad contours of the first phase of the bilateral deal, expected to be signed by fall (September-October) 2025. "The discussions are ongoing between India and the US. One thing is clear, we will protect the interest of our farmers. When we talk about two nations, we need to see the overall trade," the minister added. According to a NITI Aayog report, "Promoting India-US Agricultural Trade under the new US Trade Regime", the value for US agriculture and allied product exports to India was about $2.22 billion in the triennium ending 2024. In the same period, India exported $5.75 billion worth of agricultural products to the US. India's main agricultural exports to the US include frozen shrimp, basmati rice, spices, processed cereals, and other value-added products. The US wants to export more agricultural products such as corn, soybeans, and animal feed, but faces high Indian tariffs -- especially in agriculture, where average tariffs can reach up to 39-50 per cent. The minister's comments come as India and the US continue negotiations on expanding agricultural trade, with Washington seeking reduced tariffs and improved market access for its farm products in the Indian market. India is cautious about fully opening its agriculture and dairy markets due to concerns about potential backlash from rural communities and the need to protect domestic producers from global price volatility. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
08-06-2025
- Business
- Time of India
India will protect farmers' interest in US trade talks: Shivraj Singh Chouhan
India will prioritise protecting its farmers' interests while assessing potential gains and losses in the ongoing trade negotiations with the United States over agricultural market access , Agriculture Minister Shivraj Singh Chouhan said. "Our priority is to protect the interest of our farmers. India will not work closing its eyes. We will assess our gains and losses. Keeping that in mind, an agreement will be finalised," Chouhan told PTI in an interview. He was responding to a query on how India would safeguard farmers amid US pressure for greater market access for American agricultural and horticultural products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Iraq: Jewelry On Sale For Half Price! (See Price List) Luxury Jewelry | search ads Undo The negotiators are expected to agree on the framework for the broad contours of the first phase of the bilateral deal, expected to be signed by fall (September-October) 2025. "The discussions are ongoing between India and the US. One thing is clear, we will protect the interest of our farmers. When we talk about two nations, we need to see the overall trade," the minister added. Live Events According to a NITI Aayog report, "Promoting India-US Agricultural Trade under the new US Trade Regime", the value for US agriculture and allied product exports to India was about USD 2.22 billion in the triennium ending 2024. In the same period, India exported USD 5.75 billion worth of agricultural products to the US. India's main agricultural exports to the US include frozen shrimp, basmati rice, spices, processed cereals, and other value-added products. The US wants to export more agricultural products such as corn, soybeans, and animal feed, but faces high Indian tariffs -- especially in agriculture, where average tariffs can reach up to 39-50 per cent. The minister's comments come as India and the US continue negotiations on expanding agricultural trade, with Washington seeking reduced tariffs and improved market access for its farm products in the Indian market. India is cautious about fully opening its agriculture and dairy markets due to concerns about potential backlash from rural communities and the need to protect domestic producers from global price volatility.
Mint
08-06-2025
- Business
- Mint
India will protect farmers interest in US trade talks: Shivraj Singh Chouhan
New Delhi, Jun 8 (PTI) India will prioritise protecting its farmers' interests while assessing potential gains and losses in the ongoing trade negotiations with the United States over agricultural market access, Agriculture Minister Shivraj Singh Chouhan said. "Our priority is to protect the interest of our farmers. India will not work closing its eyes. We will assess our gains and losses. Keeping that in mind, an agreement will be finalised," Chouhan told PTI in an interview. He was responding to a query on how India would safeguard farmers amid US pressure for greater market access for American agricultural and horticultural products. The negotiators are expected to agree on the framework for the broad contours of the first phase of the bilateral deal, expected to be signed by fall (September-October) 2025. "The discussions are ongoing between India and the US. One thing is clear, we will protect the interest of our farmers. When we talk about two nations, we need to see the overall trade," the minister added. According to a NITI Aayog report, "Promoting India-US Agricultural Trade under the new US Trade Regime", the value for US agriculture and allied product exports to India was about USD 2.22 billion in the triennium ending 2024. In the same period, India exported USD 5.75 billion worth of agricultural products to the US. India's main agricultural exports to the US include frozen shrimp, basmati rice, spices, processed cereals, and other value-added products. The US wants to export more agricultural products such as corn, soybeans, and animal feed, but faces high Indian tariffs -- especially in agriculture, where average tariffs can reach up to 39-50 per cent. The minister's comments come as India and the US continue negotiations on expanding agricultural trade, with Washington seeking reduced tariffs and improved market access for its farm products in the Indian market. India is cautious about fully opening its agriculture and dairy markets due to concerns about potential backlash from rural communities and the need to protect domestic producers from global price volatility.
