New Delhi : New trade deal between India and the United States has created worry among Indian farmers and people working in the dairy sector. Even though the US has reduced some tariffs on Indian goods, many feel the agreement may cause losses in agriculture.
US President Donald Trump announced a 7 percent cut in tariffs on Indian products. However, high duties are still in place. India, on the other hand, has agreed to lower taxes and trade barriers on American goods and buy more products from the US.The Indian government says the deal is a success, but farmers are not confident. US officials have clearly said that the agreement will help American farmers. This has increased fear that Indian farmers may not get the same benefit.
Farming provides jobs to a large part of India’s population. Many Indian farmers grow crops like corn, soybeans, and pulses. If cheaper US farm products enter Indian markets, local farmers may find it hard to compete.There is also concern in the dairy sector. If American milk and dairy products come into India, small milk producers could suffer. Experts say the trade deal may help the US more than India, especially in farming and dairy businesses.