APD | India has offered new package to US to fix trade irritants

By APD writer Rishika Chauhan

NEW DELHI, Apr.5(APD) -- Minister of Commerce and Industry, Suresh Prabhu recently informed that India had decided to offer a conciliatory trade package to the US.

The announcement was made on Wednesday to lessen the tensions that have crept in between New Delhi and Washington since last month when President Trump decided to deny India preferential market access to the US.

The minister also informed that the trade package was currently being examined by the Trump administration.

While denying India the preferential treatment, the US said that India levied huge tax on imports, however US Trade Representative’s clarified that 60 days will be given before the decision comes into effect.

According to a Hindustan Times report, “Notwithstanding about $170180 million net impact of the US Trade Representative’s (USTR) action, India is keen to address the concerns of the US.”

The major issues raised by the US have been concerning the exports of medical devices, dairy products, mobile phones and agricultural items. 

The US brought the concerns particularly at the behest of medical devices companies who raised objections because of India’s high tax on their exports.

Meanwhile India has also been asking for more market access for its products in China. The issue was brought up in March by Prabhu when he met Chinese minister of commerce Zhong Shan in New Delhi.

The Chinese minister had “welcomed Indian investment in China and promised to address the trade deficit between the two countries.”

(ASIA PACIFIC DAILY)