India Evaluates US Tariff Policy, Explores Trade Opportunities
Photo Credit: @realDonaldTrump
The Ministry of Commerce and Industry on Thursday stated in a press communique that it is carefully examining the impact of the new US Reciprocal Tariffs on Indian exports. As per Annex I of the Executive Order, India will face an additional 27% tariff, effective April 9, 2025. The baseline 10% duty will come into effect from April 5, 2025, with other country-specific tariffs ranging from 10% to 50%.
The Indian government is actively engaging with industry leaders and exporters to assess the implications and potential opportunities created by this policy shift. The Ministry emphasized that this aligns with Viksit Bharat’s vision of strengthening India’s position in global trade.
India and the US recently launched ‘Mission 500’ on February 13, 2025, led by Prime Minister Narendra Modi and US President Donald Trump, aiming to double bilateral trade to $500 billion by 2030. To achieve this, both nations are working towards a mutually beneficial Bilateral Trade Agreement (BTA), focusing on supply chain integration, investments, and technology transfers.
The government reaffirmed India’s commitment to its strategic partnership with the US, particularly through the ‘Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology’ (COMPACT) framework—designed to enhance trade, commerce, and military cooperation. Discussions with the Trump Administration are ongoing to ensure continued economic collaboration and mutual prosperity.
Source: PIB
