State Bank of India (SBI) pegs zero-tariff share of India’s farm exports to US at 75%

Key facts

• 75% of India’s agricultural exports to the United States will now attract zero tariff, according to a State Bank of India (SBI) report.
• USD 1.36 billion worth of Indian agricultural commodities will receive zero additional US duty access.
• India holds a USD 1.3 billion agricultural trade surplus with the United States.
• Key products set to benefit include rice, spices, oilseeds, tea, coffee and fisheries.
• India commands a 24.7% share in US global rice imports, valued at USD 341 million out of USD 1.378 billion total US rice imports.
• India’s share in US coffee, tea, mate and spices imports is 2.8%, worth USD 396 million out of USD 14.026 billion total US imports in the category.
• India holds a 9.6% share in US fish and aquatic invertebrate imports, supplying USD 1.817 billion out of USD 18.848 billion total US imports.
• India’s share in US edible fruit and nuts imports is only USD 39 million out of USD 21.522 billion total US imports.
• India’s share in US edible vegetables and certain roots imports is USD 109 million out of USD 12.402 billion total US imports.
• India’s share in US prepared vegetables, fruit and nuts imports is USD 192 million out of USD 13.774 billion total US imports.
• Across selected categories, India’s agricultural exports to the US total USD 2.894 billion, representing a 3.5% share of overall US imports of USD 81.950 billion.