NEW DELHI Reluctance among Indian traders to ship premium basmati rice to Iran as U.S. sanctions hobble its ability to pay has contributed to a sharp drop in overall exports from the world's biggest supplier of the grain, trade and government sources said.
NEW DELHI The United States wants India to buy at least another $5-6 billion (£4.5 billion) worth of American farm goods if New Delhi wants to win reinstatement of a key U.S. trade concession and seal a wider pact, four sources familiar with the talks told Reuters.
* India, U.S. work on trade deal ahead of Trump India visit
* U.S. wants India to buy more from U.S. agri firms
* India deal likely similar to one with China-source
By Aditya Kalra and Neha Dasgupta
NEW DELHI, Jan 24 The United States wants India
to buy at least another $5-6 billion worth of American poultry
and farm goods if New Delhi wants to win reinstatement of a key
U.S. trade concession, four sources familiar with the talks told
U.S. President Donald Trump cited trade barriers last year
when removing India from its Generalized System of Preferences
(GSP) programme that allowed zero tariffs on $5.6 billion of
exports to the United States. In retaliation, India slapped
higher tariffs on more than two dozens U.S. products.
Ahead of a Trump visit to New Delhi to meet Prime Minister
Narendra Modi next month, negotiators on both sides are
hammering out terms for a trade deal that would include New
Delhi rolling back higher tariffs on some farm goods such as
almonds, walnuts and apples, one of the sources said.
Both governments had hoped to work out a limited trade deal
last year, but struggled to reach an agreement.
India's commerce ministry and the U.S. Embassy in New Delhi
did not respond to a request for comment. The office of the U.S.
Trade Representative did not immediately respond outside regular
While India has offered a partial relief on medical device
price caps that have hurt American pharma giants and a roll back
in tariffs on some U.S. goods, Trump's team wants a sweetener of
$5-6 billion in additional trade for U.S. goods to restore GSP
privileges, three of the sources said.
That demand was conveyed by the United States to India in
late December, said two sources.
As part of the negotiation, the U.S. wants India to increase
imports of frozen poultry products, the first source said. The
U.S. has already been pushing India to cut the high import taxes
on poultry products.
"The deal has to be agriculture focused, the U.S. is putting
a number on everything (if India wants GSP back)," said one of
The sources asked not to be named due to the sensitivity of
Other than the agriculture sector, the United States could
be swayed if some of that additional revenue goes to its energy
sector, said one of the sources.
Indian oil minister Dharmendra Pradhan this week said India
was looking forward to extending its energy cooperation with the
United States and other countries, but didn't disclose any
Trump is likely to visit India in late February, in what
would be his first visit to the South Asian nation since he took
office three years ago.
(Reporting by Aditya Kalra and Neha Dasgupta;
Additional reporting by Alexandra Ulmer, Nidhi Verma; Editing by
Euan Rocha and Toby Chopra)
KUALA LUMPUR/NEW DELHI India's trade minister will not meet with his Malaysian counterpart in Davos next week because of his tight schedule, an Indian trade ministry official said on Sunday, as a spat simmers between the top buyer of palm oil and its biggest supplier.
KUALA LUMPUR/NEW DELHI Trade ministers from India and Malaysia are likely to meet on the sidelines of the World Economic Forum's annual meeting in Davos next week amid a palm oil spat between the two countries, a Malaysian government spokesman told Reuters on Friday.
NEW DELHI India is planning to cut some imports from Turkey and widen curbs on palm oil from Malaysia to oil, gas and other products, government officials said, targeting the two Muslim-majority countries for their criticism of India's policy toward Kashmir.
MUMBAI/NEW DELHI Indian broadcasters will on Tuesday ask a court to suspend new government regulations on pay-TV charges they say would put some channels out of business and stifle consumer choice, two sources told Reuters.
MUMBAI/NEW DELHI, Jan 13 Indian broadcasters
will on Tuesday ask a court to suspend new government
regulations on pay-TV charges they say would put some channels
out of business and stifle consumer choice, two sources told
NEW DELHI, Jan 13 India's telecom regulator said
on Monday its new tariff rules for cable and digital television
players were fair and aimed at curbing excessive pricing by some
NEW DELHI State-owned Indian miner NMDC is poised to win a multibillion-dollar contract to explore and mine diamonds at a large project abandoned by global miner Rio Tinto , a leading local government official told Reuters.