U.S. may scrap penal tariff on India, cut reciprocal tariff, India chief econ adviser says

MUMBAI, Sept 18 (Reuters) - The U.S. may soon scrap the penal import tariff on Indian goods and could also cut reciprocal tariff to 10-15% from existing 25%, India's Chief Economist Adviser V. Anantha Nageswaran said on Thursday.

"My personal confidence is that in the next couple of months, if not earlier, we will see a resolution to at least to the extra penal tariff of 25%," Nageswaran said at a event in Kolkata.

"It may also be the case that reciprocal tariff may come down to the level, which we were earlier anticipating somewhere between 10% and 15%."