US lifts import duties on over 250 food products !

Washington (US) – In a move aimed at curbing rising inflation, President Donald Trump has decided to reduce import duties on more than 250 food products. This decision has brought relief to farmers and agricultural exporters in India. India’s agricultural exports are expected to gain an estimated direct benefit of ₹ 26,000 crore from this move. Over the past few months, India’s exports of spices, tea, coffee, cashews, and fruits had taken a hit due to high US import duties. With these duties now reduced, the situation is expected to improve rapidly.

India’s economy to gain fresh momentum !

After the US raised import duties earlier, India’s exports had fallen by 12 per cent in September, dropping to 5.43 billion dollars. This relief therefore comes at a crucial time for India’s economy. With the reduction in duties, Indian products will once again become competitive in the US market.