India may buy corn from the United States for ethanol production and increase energy imports as part of new proposals in ongoing trade discussions, according to The Economic Times, according to the various media reports.
In exchange, India is urging the US to lift the 25% tariff on Indian imports of Russian oil, which Washington says is helping finance the war in Ukraine. “Fresh offers have been made… There is a discussion to buy corn for ethanol production,” an Indian official said.
The US has been pushing India to buy more American soybeans and corn, but India has been cautious due to concerns about genetically modified crops entering the food chain. Indian officials have stressed that protecting domestic farmers and keeping GM products out of the market remain top priorities.
In August, India exported goods worth $6.86 billion to the US, while imports from the US totaled $3.6 billion, according to government figures.
