India and the U.S. Likely to Finalize Trade Agreement Soon
23-Oct-2025 04:24 PM
India and the U.S. Likely to Finalize Trade Agreement Soon
★ The trade agreement between India and the United States is reportedly nearing its final stage. The U.S. may reduce tariffs on certain Indian goods from 50% to 15%. According to sources familiar with the talks, the energy and agriculture sectors are among the key focus areas, with India considering some concessions in these fields.
★ U.S. negotiators have suggested that India gradually reduce crude oil imports from Russia and open its market to non-GMO (non-genetically modified) corn and soymeal from the U.S.
★ India believes that U.S. products could find demand in the country’s rapidly expanding poultry, dairy, and ethanol industries without harming the interests of Indian farmers. Currently, India imports about 500,000 tonnes of corn from the U.S.
★ In April, former President Trump imposed a 25% tariff on India, followed by an additional 25% penalty on crude oil purchases from Russia—effectively creating a total tariff burden of 50%. At present, India meets about 34% of its oil demand from Russia and 10% from the U.S.
★ If the agreement is finalized, it could have an impact on the prices of corn and oilseed crops in India.