India, Sept. 19 -- The US may withdraw 25 per cent penal tariff imposed on Indian goods and reduce the reciprocal duty from 25 per cent to 10 per cent-15 per cent within eight to ten weeks, Chief Economic Adviser V Anantha Nageswaran claimed on Thursday.
He also said the issue could be resolved in the coming weeks as talks between New Delhi and Washington progress. "Beneath the surface, a lot of conversation has been happening between the two Governments," he added.
The additional 25 per cent tariff imposed by the US on Indian products for the country's purchases of Russian oil came into effect in August, bringing the total amount of levy imposed on New Delhi to 50 per cent. Nageswaran said, "My hunch is that in the next eight to ten week...