(MENAFN) India has reportedly proposed significant reductions in import duties on a variety of products, aiming to finalize a preliminary trade arrangement with the United States, according to a report by the media on Wednesday. Despite this offer, the country appears intent on preserving elevated tariffs on particularly sensitive agricultural commodities, such as grains and dairy goods.The Indian government is hoping to reach an accord before July 9, a date by which the US has warned it may enforce a 26 percent retaliatory tariff on all Indian exports. Sources familiar with the ongoing discussions informed the media that India has expressed readiness to lower import duties on less critical agricultural imports, like almonds, which are currently subject to tariffs as high as 120 percent. The country may also entertain the possibility of decreasing tariffs on foreign oil and gas, which currently fall within the 2.5 percent to 3 percent range, the report noted.While the media’s informants refrained from disclosing the specific US goods that New Delhi is prepared to “substantially” reduce tariffs on—citing the talks being at an “early stage”—Indian trade representatives have implied that any compromises would mirror those seen in previous trade deals. For instance, in its agreement with the UK, India agreed to lower tariffs on items like alcoholic spirits, automobiles (including electric models), automotive parts, and industrial goods.