US Tariff Cut to 18% to Boost Indian Rice Exports, Say Exporters

• The US has proposed reducing import tariffs on Indian goods from 25% to 18%, a move welcomed by the Indian Rice Exporters Federation (IREF).
• This tariff reduction is expected to restore price parity for Indian rice with competitors like Thailand and Pakistan, who face around 19% duties.
• IREF National President Prem Garg and RiceVilla Group CEO Suraj Agarwal highlighted that this creates a level playing field in a high-value market.
• The industry hopes for a waiver of potential penalties related to India's Russian oil purchases, further boosting trade.
• India has a record rice production of approximately 149 million metric tonnes, and exports to the US have shown resilience even with past duty hikes.

Why It Matters: US tariff reduction to 18% is set to significantly boost Indian rice exports by ensuring price parity.