India has proposed the abolition of duties on limited imports of steel, automotive components and pharmaceutical products from the United States in exchange for mirror conditions.
This is reported by Bloomberg.
The proposal was made during a visit by Indian trade officials to Washington in late April. Both sides are trying to accelerate the conclusion of a bilateral trade agreement this fall.
According to sources, duty-free imports will only apply to a certain volume of goods. After exceeding the limit, the standard customs rates will apply.
Among the US conditions is solving problems with the so-called Quality Control Orders (QCOs), which Washington considers non-tariff barriers. We are talking about mandatory quality standards that all manufacturers, including foreign ones, must adhere to. The American side calls them opaque and discriminatory.
India, for its part, is ready to review these requirements in certain sectors — in particular, in medical devices and chemicals — and offers to sign an agreement on mutual recognition of standards.
The discussion is still ongoing, and it is not clear whether these points will be included in the final text of the agreement.
