Brief by Shorts91NewsDesk / 07:36pm on 13 Apr 2025,Sunday India Global
A senior Indian official has indicated that the 'zero-for-zero' tariff strategy, proposed by the Global Trade Research Initiative (GTRI), is unlikely to be adopted in the forthcoming India-US trade agreement. This approach involves mutual elimination of tariffs on select goods to avoid broader concessions. However, the official suggests that India prefers a comprehensive trade deal over product-specific tariff eliminations. The GTRI had recommended this strategy to circumvent potential reciprocal tariffs from the US, which could adversely affect Indian exports. Despite the WTO's stance on such arrangements, the GTRI viewed it as a less detrimental alternative to a full-fledged FTA, which might compel India to make challenging concessions in areas like agriculture and data protection. (Business Today)
