The US has indicated that it will consider a waiver to India from its 25% additional tariff on steel, provided New Delhi offers an acceptable proposal to lower the volume of its supplies of the metal to the world’s biggest economy. For its part, the US hasn’t yet suggested any volume threshold for steel supplies from India to qualify for exemption; instead, it has asked India to submit the proposal first which can then be considered. For India, greater access to the American market in food, farm, engineering goods, auto and auto parts segments hold promise in the long term (over five years). The US sees good prospects for its companies in Indian civil aviation, oil and gas, education service and agriculture segments.

(Financial Express)