India US Interim Agreement framework to support MSMEs integration into global value chains: FM
New Delhi (PTI) The India-US Interim Agreement framework will support Indian MSMEs in integrating into global value chains and lower costs for businesses and consumers, Finance Minister Nirmala Sitharaman said on Saturday.
As part of the framework announced last night, both countries will reduce import duties on a number of goods to boost two-way trade.
While the US will reduce tariffs on Indian goods to 18 per cent from the present 50 per cent, India will eliminate or cut down import duties on all US industrial goods and a wide range of American food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits.
According to a joint statement, India has expressed its intention to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over the next five years.
"India has safeguarded the sensitivities of its agriculture and animal husbandry sectors. The framework protects key farm and dairy products, spices, and staples, strengthening farmer incomes," the office of Sitharaman said in a post on X.
The framework will strengthen India's lead in the digital services sector, it said, adding the joint technology cooperation will position India as a hub for AI, data and digital services.
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Bihar hooch tragedy toll rises to nine as three more persons die
Motihari (PTI): The toll in the hooch tragedy in Bihar's East Champaran district rose to nine on Sunday after three more people who had consumed spurious liquor died, officials said.
The first death was reported on Thursday, they said.
A total of 15 people have been arrested in connection with the deaths in the Turkauliya and Raghunathpur areas of Motihari, District Magistrate Saurabh Jorwal said.
A case of murder has already been registered on the basis of complaints filed by the family members of the deceased, police said.
Jorwal said one person is still in the hospital and his condition is reported to be critical.
"Seven persons have already been discharged after treatment," he told PTI.
"The bodies of the deceased have been sent for post-mortem examination. The exact cause of the deaths can only be known after the reports arrive," he said.
The SHO of Turkauliya police station has already been suspended on charge of dereliction of duty, and a special investigation team has been constituted to probe the incident, officials said.
The deaths have led to a political slugfest in the state, where the sale and consumption of alcohol has been banned since 2016.
