In a written reply, Chaudhary mentioned, “The federal government attaches the utmost significance to defending and selling the welfare of our farmers, entrepreneurs, exporters, MSMEs and so forth. and can take all vital steps to safe our nationwide curiosity.”
The US is India's greatest market, having accounted for a fifth of its complete merchandise exports of $437 billion in FY25.
The commerce ministry, Chaudhary mentioned, is partaking stakeholders, together with exporters and trade gamers, to have their inputs on the state of affairs.
The preliminary 25% additional US tariff on India was to be relevant from August 7. The Trump administration has additionally introduced the imposition of one other 25% tariff on India for its continued imports of crude oil from Russia.
For its half, India has pointed on the continuance of huge power imports by the EU from Russia even after the Ukraine battle. The US, too, continues to import items of its curiosity from Russia.Chaudhary mentioned reciprocal tariffs at various charges have been imposed by the US on imports from all international locations.
“Mixture of various components similar to product differentiation, demand, high quality, contractual preparations would decide the affect on India's exports,” Chaudhary added.
