New Delhi, March 9 -- India agreeing to cut its tariffs is not an "extraordinary step", a government source told News 18 on Saturday. The source said that this move is rather part of a broader pattern, as India has undertaken similar tariff reductions with other developed countries in the past.

Source said, "India has already made similar agreements with countries like Australia, the UAE, Switzerland, and Norway." Meanwhile, sources told NDTV that inegotiations are currently underway with the European Union and the United Kingdom, among other partners.

"The ongoing discussions with the United States should be seen in this context," sources were quoted as saying.

Published by HT Digital Content Services with permission from MINT....