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The US has imposed new tariffs on Indian goods, affecting key export sectors in India. Here's what you need to know about these developments.
On April 2, the US imposed a 26% tariff on Indian imports, impacting sectors like electronics, seafood, and gold, while pharmaceuticals and semiconductors remain exempt.
India's exports to the US could decline by $5.76 billion in 2025 due to tariff hikes, with electronics and seafood among the hardest-hit sectors.
However, on April 9, President Trump announced a 90-day pause on most tariffs, offering a window for trade negotiations, though tensions with China persist.
Indian exporters are exploring market diversification and cost optimisation strategies to mitigate the impact of US tariffs on their businesses.
India is considering export support measures, including interest subsidies and diversification incentives, to assist affected exporters.
To reduce reliance on the US, India is expanding trade ties with the EU and ASEAN, aiming for a more balanced export portfolio.
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