Indian farm products to enter US at zero duty: Piyush Goyal

NEW DELHI : Union Commerce Minister Piyush Goyal on Saturday hailed the framework announced on the India US trade agreement and said that this would bring huge benefits to farmers and Indian MSMEs.

He said, "Agricultural products from Indian farmers will be exported to the United States at zero duty. At the same time, no tariff concessions have been granted for agricultural products from US farmers entering the Indian market."

On the trade deal, the Minister said it brings new hopes and opportunities in India's growth story.

"The 50 percent reciprocal tariff has been reduced to 18 percent which is less compared to our neighbouring countries, and will provide a lot of help to out exporters. The deal brings new hopes and opportunities in India's growth story," he said.

While addressing a press conference on the India US Joint Statement, minister Goyal said, "Agricultural products from Indian farmers will be exported to the United States at zero duty. At the same time, no tariff concessions have been granted for agricultural products from US farmers entering the Indian market. The agreement also makes it clear that genetically modified (GM) food will not be allowed into India."