Agri, dairy interests 'protected' in US trade deal

Joint statement and agreement details expected 'shortly'

- SHREYA NANDI

India has protected its sensitive agriculture and dairy sectors in the just-concluded trade deal with the US, said Union Commerce and Industry Minister Piyush Goyal on Tuesday. He said both sides were working towards soon issuing a joint statement that would set out the details of the agreement.

“This is a deal that will make every Indian proud, that will protect the interests of every Indian, and provide huge opportunities for all the people of India,” Goyal told reporters in New Delhi. He further noted that the agreement will “protect the sensitive sectors, the interests of our agriculture and our dairy sectors in full respect”.

Later, speaking to CNBC, United States Trade Representative Jamieson Greer said India, like every country in the world, including the US, has some protection around certain key areas. “They will continue to control that, we will continue to work on access,” he added. Greer said the process of making the deal official is under way.

Although US President Donald Trump said on Monday that India would reduce tariffs to “zero”, it's learnt that New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. India will, for instance, continue to withhold tariff concessions on products such as dairy, poultry, cereals, genetically modified food, soya meal, corn and maize.