In a move to address US concerns on tariffs, Union government is set to ask various ministries to provide their inputs on possible tariff and policy changes to boost access for American companies, a report by Mint said on February 24.
The development comes ahead of the trade talks with the US, the report said.
Centre is seeking policy tweaks with a target of enhancing access for US companies, educational institutions and research in various sectors, including space, agriculture, pharmaceuticals and high-value manufacturing, according to the report.
With this, the Central government plans to address US concerns on high tariffs and also to create a “more balanced trade” ecosystem with the US, the newspaper said.
Earlier, Moneycontrol had reported that both the countries have agreed to reduce tariffs on certain products as part of the proposed mutually-beneficial trade deal.
On February 13, India and US agreed on a new goal for bilateral trade – "Mission 500” – aiming to more than double total bilateral trade to $500 billion by 2030.
Union commerce minister Piyush Goyal said the trade agreement between the two countries will be the “mother of all deals”, providing huge opportunities for both Indians and Americans.
Recently, during Prime Minister Narendra Modi’s visit to the US to meet President Donald Trump saw the latter single out India as the “highest tariff” nation and the announcement of reciprocal tariffs.
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