‘Adopt dual-track approach to…’: NITI Aayog has important suggestion on India-US trade deal
[ad_1] The working paper emphasises that India's agricultural industry requires protective measures. (AI image) India-US trade deal: Following the US implementation of 'reciprocal tariffs', India ought to implement a two-pronged strategy, according to a NITI Aayog working paper. This involves reducing elevated tariffs on non-critical agricultural imports from the US, whilst tactically extending concessions in areas where domestic production falls short.The working paper, titled 'Promoting India-US Agricultural Trade Under the New US Trade Regime', emphasises that India's agricultural industry requires protective measures to maintain stable prices for both producers and consumers, protecting them from significant international market fluctuations."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," states the paper.The analysis highlighted that the unexpected declaration of "reciprocal tariffs" […]