Chandigarh, Feb. 4 -- The basmati exporters from Punjab and Haryana heaved a sigh of relief after India and the US agreed on a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18%, lower than that for countries like China, Bangladesh and Vietnam.

The deal will lead to the US slashing the tariff on export of aromatic grain by nearly one-third from 50% to 18%, less than the other grain exporting nations, like Pakistan, Indonesia, Vietnam, Bangladesh and China.

"The move will provide immediate relief to exporters and millers, it also raises hopes of better prices for farmers in the coming season. The decision comes at a time when the basmati rice industry has been passing through severe difficultie...