India-US trade deal protects sugar sector: Government sources
India’s upcoming trade deal with the US safeguards domestic agriculture by excluding sensitive sectors such as sugar, dairy, rice, wheat, soybean and corn. The pact, expected soon, lowers tariffs on Indian exports while protecting farmers and key local industries.
India-US trade deal protects Indian farmers, with the sugar and dairy sectors kept out of the bilateral pact, senior government sources told Moneycontrol. The announcement of the deal is likely within the next few days.
Sources familiar with the matter said the pact also leaves out key crops such as rice, wheat, soybean, and corn, providing protection to important local industries.
The broader framework for the agreement was confirmed after a phone conversation earlier this week between US President Donald Trump and Prime Minister Narendra Modi. On February 2, Trump stated that the US and India had reached an understanding on the long-pending trade deal, which would lower tariffs on shipments from New Delhi from 50 percent to 18 percent.
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