The U.S. Department of Agriculture (USDA) is spearheading a trade mission to New Delhi, India from April 22-25, 2024.
Comprising representatives from 47 businesses and organizations, alongside officials from 11 state agriculture departments, this diverse group underscores the immense potential of India’s burgeoning market for American agriculture. Under Secretary Taylor underscored India’s robust economy and expanding middle class, which has developed a taste for American food.
The combination of India’s confidence in the quality of U.S. goods has led to a notable 11% increase in U.S. agricultural exports to India over the past two years. The USDA is actively facilitating this growth by accessing new markets. Recent tariff reductions on key products such as poultry and fruits further bolster the U.S.-India trade relationship.
The primary goal of this trade mission is to capitalize on these successes by securing new purchase agreements for American producers. By promoting agribusiness trade, the USDA aims to extend its benefits to a wider range of American farmers, businesses, and communities.
This mission seeks to connect American agribusinesses with potential buyers from India, Nepal, and Sri Lanka. U.S. participants will benefit from market briefings, meetings with USDA leaders, and networking opportunities throughout the event.
Focusing on India, Nepal, and Sri Lanka is strategic, as these countries collectively spent over $2.5 billion on U.S. agricultural products in 2022. India, in particular, with its booming economy and expanding middle class, presents a strong demand for various U.S. exports, including meat, dairy, fruits, nuts, cotton, and wood products.
The recent reduction in tariffs on American goods like pecans, almonds, and apples, coupled with anticipated reductions on blueberries, cranberries, and frozen poultry in 2024, further enhance the prospects for U.S. exporters in India.
India’s increasing agricultural imports, totaling $37 billion in FY 2023, underscore the significant opportunity for U.S. exporters across various sectors. Additionally, recent agreements between the United States and India to resolve trade disputes and lift tariffs on several American agricultural products further augur well for American farmers.
In addition to agricultural trade, the partnership between the U.S. and India extends to critical technologies, healthcare research, and advocating for India’s permanent membership in the United Nations Security Council (UNSC). This collaborative approach reflects a shared commitment to innovation, inclusive trade, and addressing global challenges, fostering mutual economic growth and prosperity.
