The two sides are reportedly eyeing a bilateral trade deal by the end of the year with a target of $500 billion in trade by 2030.
New Delhi: Ahead of Donald Trump’s reciprocal tariffs set to kick off on April 2, India is reportedly speculated to lower or eliminate import levies on American walnuts, almonds, apples, and cranberries.
According to reports, officials are discussing offering duty concessions on nuts, almonds and walnuts and removing duties on cranberries. The two sides, India and the US, are reportedly eyeing a bilateral trade deal by the end of the year with a target of $500 billion in trade by 2030.
Also Read | No Major Port In The Country Has Been Privatised: Centre
A standard 42-120 percent duty on almonds, 50 percent on apples, and 120 percent on walnuts is currently imposed by New Delhi.
India is also considering duty concessions on American cherries and cranberries, which face 30 percent import tariffs. In April-November FY25, New Delhi imported $614.5 million worth of almonds from the US, $22.48 million worth of apples, and $6.68 million worth of cranberries.
Highlighting the impact of the move, AIMIM chief Asaduddin Owaisi emphasised that Indian farmers, specifically those in Jammu and Kashmir, will struggle while cheaper American products flood the market.
“Yesterday in Parliament, I raised concerns about the impact of US tariffs on India’s agricultural sector. Now, with India considering lowering import duties on US apples, almonds, and walnuts, currently as high as 120%. Our market will be flooded with cheaper US produce, making it harder for Indian farmers, especially in J&K, to compete. This is just the beginning, and the agricultural sector will be the worst hit, as it faces 32.37% Tariff differential,” the Lok Sabha MP said.
Jammu and Kashmir has a monopoly on India’s walnut production, accounting for almost 98 percent. It is also the largest producer of almonds in the country (92 percent) and the leading apple-producing state (75 percent) of India’s apples.
Also Read | Airtel Partners With SpaceX To Bring Starlink Internet To India
Commerce and Industry Minister Piyush Goyal is reportedly in Washington leading discussions on a potential bilateral trade agreement (BTA).
Additionally, the textile and apparel sector is also taking steps to maintain trade flow, with exporters planning talks with US buyers following Goyal’s visit.
The Gem & Jewellery Export Promotion Council (GJEPC) is also sending a delegation to meet key US stakeholders, including De Beers and Tiffany & Co., as India supplies 12.99% of America’s gem and jewellery imports, according to reports.
