(Image source from: economictimes.indiatimes.com)

A notable discussion on the concession of import duty on pulses, medical devices, and dairy products has been on between India and the US.

At an official-level meeting, the Trade negotiators of both these countries discussed this last week. Sources said, “ Discussions are mostly around agricultural goods”.

One of the trade issues experts says this discussion is a stepping-stone with regards to trade between the two countries.

Further, the expert says “ This is a good progress because both sides have sensitive issues. The way the two sides are progressing, a trade package could be finalized in a month or two”.

What you should know

1. Collectively, India and the US see scope for duty concession on 40 products like pistachios, walnuts, and apples.

2. Washington asked New Delhi to bring down the import duty on pulses.

3. Three countries, the US, Canada, and Australia moved the WTO against India’s ban on import of certain pulses and believe that they can check on the falling prices in the domestic market. India doesn’t have concerns with a rise in import prices on pistachios.

4. The US Trade Representative Robert Lighthizer might visit India soon.

5. Price controls on dairy imports and medical devices are equally important issues that the two countries have been discussing for a while now.

By Neha Makhija