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As part of the agreement, India has agreed to eliminate retaliatory customs duties on 28 American products, including almonds, walnuts, and apples.
India and the United States have reached an agreement to resolve six trade disputes at the World Trade Organisation (WTO), a move that experts believe will enhance bilateral trade and strengthen economic ties between the two nations.This development coincides with Indian Prime Minister Narendra Modi's state visit to the United States, following an invitation from President Joe Biden and First Lady Jill Biden.
To this experts in the field of international trade have expressed optimism about the positive implications of this announcement.
Biswajit Dhar, an international trade expert, believes that the resolution of these disputes will contribute to the promotion of bilateral trade between India and the United States. Another expert highlighted the potential of this decision to bolster the 2+2 dialogue between the two countries. Rakesh Mohan Joshi, the Director of the Indian Institute of Plantation Management Bengaluru (IIPMB), also acknowledged the significance of such decisions in further promoting trade.
These six disputes encompass various issues, such as countervailing measures on certain hot-rolled carbon steel flat products from India, measures relating to solar cells and modules, export-related measures, certain measures on steel and aluminium products, and additional duties on specific US products.
By addressing these disputes, both countries pave the way for improved trade cooperation and lay the groundwork for further productive engagement in the future.
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