What is the most significant opportunity that India has missed by not striking a deal? Conversely, what has India gained by not finalising a deal?The conditions asked by the US in negotiations are not precisely known, as they are not in the public domain. But the insistence on stopping the purchase of oil from Russia could not have been accepted by India for strategic reasons. Therefore, in the short term, it can be said that Indian exports will face a higher tariff than those of India’s competitors. The additional 25per cent tariff will become effective on August 27, 2025, and it is quite possible that the US may review the same. In the seafood sector, approximately 35 per cent of exports go to the US. The Government of India (GoI) has stated that it will seek other avenues to compensate for potential losses. Is it easy for India to forgo the US market?It is not easy to find alternative export markets. Indian exporters will be exploring the markets in EU, UK, Japan, China and West Asia. Consumption in the domestic market may also increase if state governments in India do not impose periodic restrictions during certain festivals.India is the largest producer of milk in the world. Despite this, counterfeit dairy products are being sold in the open market, especially during festive seasons, raising serious health concerns. How do you view India’s decision not to import dairy to meet domestic demand?It is true that the implementation of food safety norms prescribed by the FSSAI is often violated by unscrupulous players. We do need much better implementation of these laws. Import of dairy products at low duty will adversely impact the livelihood. For premium dairy products, India can consider a lower duty if US authorities can certify that the cattle have been given non-meat feed or that they are pasture-grazed. For example, in the American market, milk packs declare that artificial growth hormone was not given to cows.
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