New Delhi [India]: In response to the 27% reciprocal tariffs imposed by the US on Indian exports, Union Minister of State for Finance Pankaj Chaudhary has assured that India will carefully review and assess the impact of these measures before taking any action.
Key Highlights from Pankaj Chaudhary’s Statement
📢 “For Donald Trump, it’s America First, and for Modi ji, it’s India First. We will analyze the situation, assess the impact, and respond accordingly.”
Industry Leaders Weigh In
🔹 Sanjay Nayar (ASSOCHAM President): “India is not as badly impacted as some other countries. While the tariffs look steep, India is relatively better positioned compared to Southeast Asian nations. The focus should now be on improving efficiency.”
🔹 Trade Experts: “India has a dual-edged advantage—while tariffs on certain goods will hurt, the relatively lower tariffs compared to China and Vietnam create a strategic opportunity for exports.”
Breakdown of US Tariffs on Major Countries
- 🇨🇳 China: 34%
- 🇪🇺 European Union: 20%
- 🇻🇳 Vietnam: 46%
- 🇹🇼 Taiwan: 32%
- 🇯🇵 Japan: 24%
- 🇮🇳 India: 27%
- 🇬🇧 United Kingdom: 10%
- 🇧🇩 Bangladesh: 37%
- 🇵🇰 Pakistan: 29%
- 🇱🇰 Sri Lanka: 44%
- 🇮🇱 Israel: 17%
Which Indian Sectors Are Affected?
✅ No Tariffs on: Pharmaceuticals, Semiconductors, Copper, Energy Products
⚠️ 27% Tariffs on: Steel, Aluminium, Auto-related Goods
What’s Next?
🔥 The Indian government is expected to strategize countermeasures while exploring ways to enhance trade competitiveness. Meanwhile, industry leaders are urging businesses to improve efficiency and diversify export markets.