India may open its market for American soybeans:US official says ‘best offer yet’; trade deal possible within a year

India and the US are involved in ongoing negotiations regarding bilateral trade. During one of these negotiations US’s Trade Representative Jamison Greer stated that India has given the ‘best offer’ so far concerning the agriculture sector of the country. According to an IANS report, discussions are underway to provide greater access for US farmers to Indian markets. Specifically, there is talk of opening up the domestic market for crops like sorghum and soybeans. Greer informed that the US negotiating team is currently in New Delhi, discussing agriculture-related issues. India is being cautious regarding some crops, but this time, India has shown interest in opening its market. READ MORE | Trump signals slapping new tariffs on India India can become huge market for US agri-products According to Greer’s statement, India can become a large and new market for US agricultural products, especially at a time when US farmers are being affected by declining demand from China and a large quantity of grain is in stock. Greer also said that this conversation is part of a change in which the US is trying to gain access to new markets around the world. He says that these new markets found globally strengthen discussions with large countries like India. India-US is also discussing other issues besides agriculture Greer said that apart from agriculture, talks are also underway between the two countries on some other issues. The discussion of imposing zero tariffs on aircraft parts under the 1979 Aircraft Agreement has progressed significantly. READ MORE | US lifts reciprocal tariffs on tea, coffee, spices, among others How will this affect India? This means that if India allows US goods to enter its market with low taxes, the US will also give the same concession in return to India. During this, Senate Committee Chairman Jerry Moran said that India can also become a big buyer of ethanol made from US corn and soybeans. However, Greer did not provide much information about this, but he said that several countries, including the European Union, have opened their markets for US’s ethanol and energy products and have promised purchases worth approximately $750 billion in the coming year. ​