India's Agriculture Secures $400 Billion Boost from US-EU Trade Agreements

Trade agreements with the US and the EU have established a $400 billion market opportunity for India's agriculture sector. Despite opposition concerns over impacts on local farmers, the agreements do not include concessions on dairy, poultry, or cereals.

India's agriculture sector is poised for a substantial boost with the opening of a $400 billion market, thanks to recent trade agreements with the US and the European Union. Currently, India's agricultural exports to the US reach $2.8 billion, while imports are at $1.5 billion.

In total, India's agricultural imports stand at $35 billion, with exports valued between $51 and $52 billion. The agreements are expected to widen market opportunities significantly, according to an official statement.

Despite concerns from opposition parties about potential negative effects on Indian farmers, particularly regarding dairy, poultry, and cereals, the trade deals do not encompass duty concessions for these sectors, focusing instead on boosting exports.

(With inputs from agencies.)