MUMBAI: Indian farmers have expressed concern that New Delhi has made too many concessions to Washington after the two countries brokered a new trade deal that would lower tariffs.
Under the terms of the deal that was laid out in a joint statement from both countries released on Saturday, India will “eliminate or reduce tariffs on all US industrial goods” and other food and agricultural products.
Meanwhile, the US will apply a reciprocal tariff rate of 18 percent on goods from India, including textiles and apparel, leather and footwear, plastic and rubber, organic chemicals, and certain machinery, the joint statement added.
The terms were released after US President Donald Trump announced a trade deal with India, stating that Prime Minister Narendra Modi had promised to halt Russian oil purchases.
Modi lauded the new trade deal in a post on the social media platform X later on Saturday, saying it would open up opportunities and generate jobs.
