New Delhi, Nov. 25 -- The Global Trade Research Initiative has in its recent report argued that obtaining a US tariff rollback should be India's immediate priority.

Removing oil-related duty would cut the effective US tariff burden on Indian goods from 50% to 25%, providing much-needed relief to labour-intensive sectors such as textiles, leather, gems and jewellery and pharmaceuticals, the GTRI said on Tuesday.

GTRI urged the members of the Board of Trade (BoT) to place two issues at the top of their scheduled meeting namely Quick roll out Export Promotion Mission, and push US to drop Oil Tariff. The BoT meeting scheduled for today, will be chaired by the Commerce and Industry Minister to recommend measures to lift export growth.

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