As trade talks between ਭਾਰਤ and the US continue, ਭਾਰਤ made it clear on Tuesday that it will not easily budge on key issues like domestic tariff rates and the US demand for lower duties on its farm products.
Finance ਮੰਤਰੀ Nirmala Sitharaman responded to US President Donald Trump’s repeated criticism, who called ਭਾਰਤ a “very big tariff abuser.” Sitharaman explained that ਭਾਰਤ’s tariff rates are often misunderstood.
“We get parliamentary approval for maximum tariff levels, but the actual tariffs charged are usually much lower,” she said.
“ਲੋਕ see the approved ceiling and think that’s the rate we impose. In reality, ਭਾਰਤ has only eight tariff rates, including a zero rate,” she added.
She also highlighted that ਭਾਰਤ has reduced average customs duties in recent budgets—from 11.65% to 10.66%—bringing ਭਾਰਤ closer to the tariff levels of Southeast Asian countries. Despite global uncertainties, Indian exports are growing, and free trade agreements with the European Union and the US are nearly finalised.
Meanwhile, Agriculture ਮੰਤਰੀ Shivraj Singh Chouhan reassured that during talks about US farm products like soybean and maize, the interests of Indian farmers will be protected.
With a deadline set by the US for July 9 to impose 26% reciprocal tariffs on ਭਾਰਤ, the ਸਰਕਾਰ is being cautious, balancing the need for better market access with protecting domestic agriculture.
The ongoing negotiations reflect a delicate dance between opening markets and safeguarding national priorities.
