32 C
New Delhi
April 7, 2020
KhabriBaba
Business

Trump Visit: India likely to open Dairy & Poultry market for USA

Reading Time: 3 minutes

US President Donald Trump is coming on an official visit to India for the first time this month. Meanwhile, under a limited trade agreement, India may approve the partially opening of its poultry and dairy market to the US. India is the world’s largest producer of milk and has so far prohibited the import of all types of dairy products. Since in India it directly connected the livelihood of 8 crore rural families. In such a situation, the sector is expected to be affected by India’s offer.

RAHUL GANDHI’S 3 QUESTIONS ON PULWAMA ATTACK ANNIVERSARY STIR CONTROVERSY

The US is India’s second-largest trade partner after China. Trade between the two countries reached $ 142.6 billion (10.12 lakh crore rupees) in 2018. The US had a trade deficit of 23.2 billion dollars (1.65 lakh crore rupees) with India in 2019. On the other hand, India is the 9th largest trade partner in America. According to government sources, India has allowed import of American chicken leg and blueberries and cherries from Turkey. The tariff on the chicken leg has been reduced from 100% to 25%, but American negotiators want to bring this tariff to 10%.

Trump called India the Tariff King

According to sources, the Modi government has also allowed American dairy products, but a 5% tariff and business limit has been imposed on this. The government has already reduced tariffs on American motorcycle company Harley-Davidson by 50%. Even then Trump had resented and called India the Tariff King. However, this did not affect Harley’s sales much.

US withdrew GSP status from India in 2019

President Trump stripped the Generalized System of Preference (GSP) status from India in 2019. The United States gave this status to other countries including India in the 1970s. The US took this step when Prime Minister Narendra Modi increased tariffs on devices such as imported medical devices, cardiac stents, and knee implants. India also imposed a ban on e-commerce companies. Trump’s visit this month has raised hopes that GSP status may be regained after some tariffs were cut from India.

Trump will visit India on 24-25 February this month. He will address the Kem Chho Trump event in Ahmedabad, Gujarat, and then interact with Modi in Delhi. The trade agreement between the two countries is expected to be signed. Modi had said that India will welcome its special guests in a memorable way. Former President Barack Obama last visited India in 2015 before Trump.

Related posts

Manufacturing sector slowed due to Corona, demand decreased

Ritu Nandal

Good news for central government employees and pensioners, 4 percent increase in dearness allowance

Ritu Nandal

RBI levies Rs 7 cr penalty on SBI for non-compliance

Ritu Nandal

Leave a Reply

avatar
  Subscribe  
Notify of

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Translate »