New Delhi, July 14 -- Opening India's dairy sector to US imports could result in an annual loss of Rs 1.03 lakh crore to Indian dairy farmers, according to a recent report by the State Bank of India (SBI).

The report cautioned that the move would significantly impact the livelihoods of small dairy farmers, as the US dairy sector is heavily subsidized.

SBI stated, "If the dairy sector is opened up, price of milk in India is likely to drop by at least 15 per cent which could cause potential annual loss of Rs 1.03 lakh crore to dairy farmers."

The report pointed out that agriculture and dairy continue to be key sticking points in trade negotiations between India and the United States.

One of the major concerns raised by SBI is the risk p...