US may soon scrap 25% penalty tariffs on India: Chief Economic Advisor
Chief Economic Advisor V Anantha Nageswaran said tariff dispute between India and US could be resolved within two months. He added the US may soon withdraw the 25% penalty tariffs on Indian goods, and talks are underway to reduce India's reciprocal tariff from 25% to around 15%. The US had imposed 25% penalty tariffs over India’s purchase of Russian oil.