India open to rationalising agri sector tariffs: Officials

Lowering tariffs on agricultural commodities will help Indian exports gain better markets in the US NITI AAYOG REVIEW

- Zia Haq

NEW DELHI: India has completed reviewing the tariff regime in the agriculture sector and will consider rationalising import taxes in areas where domestic farmers would be least impacted and where tweaks would be mutually beneficial for trade between it and the US, two officials have said, requesting anonymity.

The state-owned Niti Aayog, a policy think tank, assessed the likely impacts of US president Donald Trump's proposals to slap reciprocal tariffs on the India economy, including in the farming, fisheries and dairy sectors, one of the officials said.

According to details from the review, the think-tank has concluded that rationalising tariffs will be beneficial for India and should be done not because of American pressure but "for our own" benefit, a second official said.

"Lowering and rationalising of tariffs on agricultural commodities will increase overall trade and help Indian exports gain better markets in the US and north America," the review, seen by HT, states.