India To Remove Non-tariff Barriers On Agri And Dairy Imports

Chennai: India has agreed to remove non-tariff barriers on food and agricultural products, as per the interim framework on the trade deal with the US. Going by the terms of similar deals entered with other countries, this will let genetically modified soyabean, corn and dairy products into the country. If India fulfils the $500 billion import commitment, which looks unlikely, the country’s trade balance will fall from surplus to deficit next year. “Recognizing the importance of working together to resolve long-standing concerns, India also agrees to address long-standing non-tariff barriers to the trade in U.S. food and agricultural products,” the…