India-US jt statement remains basis for interim trade agreement: MEA

India on Thursday said its joint statement with the US remains the basis for a proposed interim trade agreement, and that the amendments in a White House fact sheet reflect the shared understandings. The fact sheet, brought out by the White House on Monday, triggered a controversy as it mentioned that India would reduce tariffs on "certain pulses" and had "committed" to buying American goods, including energy and technology, worth USD 500 billion over five years. The document was revised later and the contentious issues were removed.
"As you are aware, the India-US joint statement on the framework for an interim agreement on reciprocal and mutually beneficial trade was issued on February 7," External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing in New Delhi. "The joint statement is the framework and remains the basis of our mutual understanding in the matter. Both sides will now work towards implementing this framework and finalising the interim agreement," he said. Jaiswal was responding to a question on the issue.
The revised fact sheet issued Tuesday removed the reference made regarding pulses. "India will eliminate or reduce tariffs on all US industrial goods and a wide range of US food and agricultural products, including dried distillers’ grains (DDGs), red sorghum, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products," it said.It also removed a reference to India removing its digital services taxes. The amended document said that the Indian side is committed to negotiate digital trade rules. The amended fact sheet also stated that India "intends to buy" more US goods. It is learnt that the Indian side flagged concerns over the formulations in the fact sheet following which the White House made the amendments.