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The Print
an hour ago
- 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.
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Business Standard
a day ago
- 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
a day ago
- 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
a day ago
- 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.
Business Standard
6 days ago
- Business
- Business Standard
Amid reciprocal tariff row, NITI Aayog backs 'dual-track' India-US trade
In the aftermath of 'reciprocal tariffs' by the US, India should adopt dual-track approach and selectively reduce high tariffs on non-sensitive agricultural commodities imports from Washington, while also strategically offer concessions where domestic supply gaps exist, a NITI Aayog working paper has said. The Aayog in a working paper, titled 'Promoting India-US Agricultural Trade Under the New US Trade Regime', said that India's agricultural sector needs safeguards, to ensure price stability for both producers and consumers, against excessive volatility in international markets. "A dual-track approach is essential now. In the short term, India should consider to selectively reduce high tariffs on non-sensitive imports and negotiate non-tariff safeguards on vulnerable segments such as poultry," the paper said. It noted that sudden announcement of "reciprocal tariffs" and enhanced market access for US exports following re-election of Donald Trump as President of the United States in January 2025 have sent shock waves across the world especially among the trading partners of US. "India can also strategically offer concessions where domestic supply gaps exist, such as in edible oils and nuts," the paper suggested. Noting that India is the largest importer of edible oil in the world and the US has huge export surplus of soybean which is GM, the paper said India can offer some concession to the US in import of soybean oil to meet demands in that country and reduce trade imbalance, without harming domestic production. The paper also suggested that India should negotiate more access to the US market for high-performing exports like shrimp, fish, spices, rice, tea, coffee, rubber. India earns approximately USD 5.75 billion annually from agri-exports to the US. Expanding this through duty waivers or TRQs should be part of trade talks. Alongside strategic trade management, it said India must undertake medium-term structural reforms to improve the global competitiveness of its farm sector. "This includes bridging the productivity gap by embracing appropriate technologies, market reforms, private sector participation, improvement in logistics and development of competitive value chains," it said. The Indo-US agricultural trade has experienced significant changes and steady growth in the last two decades, signalling deepening bilateral economic ties. The composition of agricultural trade between India and the US revealed that both countries are diversifying their export portfolios. While traditional items such as frozen shrimp, basmati rice, and spices continue to dominate, there has been a marked increase in the export of processed cereals, and other value-added products. India's imports from the US remain concentrated in high-value commodities such as almonds, pistachios, and walnuts. India has maintained surplus in agriculture trade with the USA and the same has increased over time. However, the relative importance of agriculture in the bilateral trade is diminishing.
