A significant reduction in tariffs on Indian products in the US is expected

24-Oct-2025 07:34 PM

New Delhi. A bilateral trade agreement between India and the US is expected soon, and as a result, the 50 percent import duty on Indian products in the US could be reduced to 15 percent.

According to experts, the energy and agriculture sectors are among the most important topics in the bilateral trade talks, and India may offer some concessions to the US in these areas.

US negotiators are claiming that India will gradually reduce its purchases of crude oil from Russia and open its market to the import of non-GM soybeans and corn from the US.

India believes that US products will help meet the rapidly growing demand and needs of the poultry, dairy, and ethanol industries in its domestic sector, and this will not harm the interests of Indian farmers. Currently, India imports soybeans and corn from the US or insignificantly.

According to official data, during the fiscal year 2024-25 (April-March), trade between India and the United States amounted to $186 billion. India exported goods and services worth $115.20 billion to the United States and imported goods and services worth $70.80 billion from the United States.

Consequently, the bilateral trade balance remained in India's favor at $44.40 billion. During the fiscal year 2024-25, India exported commercial goods worth $86.50 billion and services worth $28.70 billion to the United States, while importing goods worth $45.30 billion and services worth $25.50 billion. Consequently,

the total trade volume between the two countries was $131.80 billion in goods and $54.20 billion in services. According to the report,

India has clearly stated that the current customs duty on non-GM maize imports will not be reduced. America is also insisting on exporting its premium quality cheese but India is not interested in it at present.