India May Lower Import Duties on American Walnuts, Almonds, Apples, and Cranberries

India is considering reducing or completely eliminating import duties on American walnuts, almonds, apples, and cranberries as part of efforts to strengthen trade relations with the US. This move aims to address trade disputes ahead of Donald Trump's reciprocal tariffs, which are set to take effect on April 2.

Current Import Duties and Potential Changes

India currently imposes high import duties on these products:

Negotiations are underway to reduce duties on walnuts and almonds and potentially eliminate duties on cranberries. Discussions include offering duty concessions on American cherries, which also face a 30% import tariff.

Trade Goals and Negotiations

India and the US are targeting a bilateral trade deal by the end of 2025, with an ambitious goal of achieving USD 500 billion in bilateral trade by 2030. Indian negotiators are currently in Washington to work on resolving these trade issues.

The Ministry of Commerce and Industry has consulted with stakeholders on reducing tariffs in sectors where India has strategic trade interests and where US imports are not significant.

Import Data: American Agricultural Products

During the period of April-November FY25, India imported:

• Almonds: USD 614.5 million
• Apples: USD 22.48 million
• Cranberries: USD 6.68 million

These import figures reflect India's demand for American agricultural products and highlight the potential impact of reduced import duties on trade volumes.

Expected Impact on Trade and Market

If import duties are reduced, it could lead to:

• Increased availability of American agricultural products in Indian markets.
• Potential reduction in consumer prices for walnuts, almonds, apples, and cranberries.
• Enhanced bilateral trade relations, contributing to the USD 500 billion trade target by 2030.

The market will closely monitor these developments as India and the US continue their negotiations for a more comprehensive trade agreement.