India could buy corn from the US to produce ethanol, besides making higher purchases of energy, as part of fresh offers to arrive at a trade deal. New Delhi has pressed for removal of the 25% penal tariffs imposed on India for purchasing Russian oil that the US says is helping to fund the Ukraine war.
“Fresh offers have been made… There is discussion to buy corn for ethanol production,” said an official. The latest move assumes significance as Washington has also been pushing India to buy American soyabean and corn, something New Delhi has resisted citing concerns over genetically modified (GM) varieties.
But the government is firm on the red lines with regard to market access in the agricultural sector, in order to protect India’s farmers, or stop GM products becoming part of the food chain.
“The talks are on track and we are trying to meet the fall deadline but the date and venue of next round of negotiations is yet to be finalised,” said another official.
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“It will be in tranches. We will continue on the path we started on,” the second official added. Both sides discussed possible contours of the agreement and decided to continue engagements to achieve early conclusion of a trade pact, the commerce and industry ministry said Friday. Commerce and industry minister Piyush Goyal led a delegation to the US on September 22-24.The Piyush Goyal-led delegation met United States Trade Representative Jamieson Greer and US ambassador-designate to India Sergio Gor. This was the first inperson meeting between the two after the 25% penal tariffs were announced August 27, adding up to a total 50%. The two sides are negotiating a Bilateral Trade Agreement (BTA), the first part of which they had aimed to conclude by fall. They have held five rounds of negotiations for the pact. The sixth round, which was scheduled for August 25-29, was deferred. Add 
as a Reliable and Trusted News Source“Apart from meetings with the US government representatives on bilateral trade matters, the delegation held discussions with key US-based businesses and investors on promoting trade and investment between India and the US,” the ministry said. “The meetings evoked positive response. The business leaders reposed confidence in the India growth story and expressed their desire to intensify their business activities in India.” Goods exports to the US in August amounted to $6.86 billion while imports were $3.6 billion.