Duty Concessions to US
India is considering reducing tariffs on soybean oil, lentils, and apples . Poultry may not be part of the concessions.
The US wants India to re-recognize the National Programme for Organic Production (NPOP) certification. India is negotiating market access and trade balance .
Import Duty on Edible Oils
- India imports soybean oil from the US, Brazil, Argentina, and Russia .
- Current duties: 27.5% on crude soybean oil, 35.75% on refined oil.
- The US exports genetically modified soybeans , which are not allowed in India .
Tariff Reduction and Import Duty
- Retaliatory duty of 20% on US apples was removed in Sept 2023 .
- Basic import duty remains at 50% .
- No major impact on domestic apple producers due to different consumer segments.
- Duty-free import regime on Lentil (Masur) imports ended on March 31, 2024 .
- The government is considering imposing import duty on Lentil .
- Major suppliers of Lentil: Australia & Canada (91%), US (less than 5%).
Context of Tariff Talks
- Commerce Minister Piyush Goyal leading negotiations in the US, discussion follows Trump’s earlier complaint that India’s tariffs were too high .
- The objective of these talks is balanced trade and sustained growth in India-US trade.
