New Trade Horizons: India Opens Door to US Agricultural Imports

India has agreed to provide import duty concessions to certain US agricultural products including dried distillers' grains, red sorghum, and apples for animal feed. This is part of the framework for the first phase of the bilateral trade agreement. Commerce Minister Piyush Goyal emphasized a calibrated approach to market openings.

In a significant development in Indo-US trade relations, India has agreed to import duty concessions on select US agricultural products including dried distillers' grains, red sorghum, and apples designated for animal feed. This move comes as part of the initial framework for the anticipated bilateral trade agreement.

Commerce Minister Piyush Goyal announced that India will offer quota-based tariff concessions on various US agricultural products. While this opens up Indian markets to US goods like DDGS, wine, and spirits, Goyal underscored that such openings are being executed with calibrated precision.

Concerns over genetically modified soymeal in DDGs were addressed, with assurance that India's environment ministry has laid out protocols for the import of GM materials. The US Grains and Bioproducts Council highlighted DDGS as a nutrient-rich byproduct of ethanol production, noting the surge in global exports from 2009 to 2023, driven by key buyers such as Mexico, South Korea, and Vietnam.

(With inputs from agencies.)