WASHINGTON: India and the US are negotiating on a wide range of trade concerns, including greater access to the Indian market for American agricultural products, potentially in exchange for America restoring New Delhi's status under the Generalised System of Preferences (GSP), according to a Congressional report.

 

President Donald Trump in 2019 terminated India's designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide equitable and reasonable access to its markets.

 

"The United States and India are negotiating on a wide range of trade concerns, including greater access to the Indian market for US agricultural products, potentially in exchange for US restoration of India's eligibility under GSP. The current status of the negotiations has not been disclosed," the latest report by independent Congressional Research Service (CRS) said.

 

Reports of the CRS are not an official report of the US Congress. Its subject matter experts prepare reports on various issues for the American lawmakers to make informed decisions. The comment on India is mentioned in the "Major Agricultural Trade Issues in the 117th Congress" dated January 8.

 

In September last year, the Indian government enacted three laws intended, in part, to help integrate Indian agriculture into the global market.

 

Commerce and Industry Minister Piyush Goyal in September said most issues preventing a limited trade deal between India and the United States have been resolved and an agreement could be signed anytime the political situation in the US allows it.

 

India is seeking exemption from high duties imposed by the US on some steel and aluminium products, resumption of export benefits to certain domestic products under the GSP, and greater market access for its products from sectors such as agriculture, automobile, automobile components and engineering.

 

On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, apart from cut in import duties on some information and communication technology products.