India Pushes For Fair Terms On Shrimp And Rice In US Trade Deal

(MENAFN- KNN India) New Delhi, Jun 2 (KNN) India could secure greater long-term market access for key farm products such as shrimp, rice, tea, coffee, and rubber under an evolving trade agreement with the US, according to a new policy paper.

The report, co-authored by NITI Aayog member Ramesh Chand and advisor Raka Saxena, calls for a balanced 'give and take' strategy to help the US reduce its trade deficit while safeguarding India's farm exports.

The paper recommends targeted tariff adjustments, import liberalization, and agricultural reforms to boost India's global competitiveness. It also urges coordination with states to enhance export efficiency.

Among the pressing issues is a proposed 26 per cent US tariff on Indian frozen shrimp-India's largest agri-export to the US, which previously faced zero duty.

This could weaken India's price advantage compared to Ecuador and Argentina, which face just a 10 per cent duty.

However, exporters remain hopeful.“We believe ongoing talks will resolve the tariff issues and preserve access to the US market,” said K.N. Raghavan, secretary general of the Seafood Exporters Association of India.

India also faces a potential 26 per cent tariff on rice exports, which currently attract only 0.6 per cent. Despite this, India retains a slight edge over Thailand, which faces a 36 per cent duty.

The paper also highlights that US apples, almonds, and pistachios could see lower Indian tariffs without threatening domestic producers due to different quality and seasonal demand.

Experts believe these negotiations are a chance for India to reform its farm sector and expand high-value exports like processed seafood and specialty rice.

With government support, India could double its agri-export turnover in five years, Raghavan added.

By converting trade pressures into reform, India could emerge as a resilient global food exporter, the report concludes.

(KNN Bureau)

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