The commerce physique has known as for export promotion and commerce facilitation measures for these things, which span from frozen shrimps and prescription drugs to smartphones, diamonds, carpets, rest room linen, milled rice and pure honey. Whereas objects like prescription drugs already kind a big chunk of India's exports, shrimps signify a very stronghold, accounting for over 40% of all such US imports.
Additionally Learn: India's exports nonetheless have room to develop even when Trump walks the speak for 10% extra tariff
Alternatively, smaller objects resembling honey kind solely a minor a part of India's $86.5 billion in total exports final 12 months, however nonetheless signify 1 / 4 of the US market, making them strategically invaluable regardless of the decrease quantity.
The record contains a number of textile merchandise, leather-based items, footwear, chemical substances, engineering objects, and electrical and electronics items—classes the place Indian exporters have historically had sturdy market positions.
The Indian authorities has already pushed for tariff concessions in a number of of those areas, significantly these which can be labour-intensive. Nevertheless, Indian exporters may lose their aggressive edge in sectors resembling shrimps and carpets, the place a reciprocal tariff price of 26%—earlier introduced for India—would depart them at a drawback in comparison with international rivals.A staff of Indian officers led by Rajesh Agarwal, particular secretary within the commerce division, will quickly maintain talks with US counterparts in an effort to safe beneficial phrases for Indian exports earlier than the tariffs threatened by US President Donald Trump come into impact on August 1.The negotiations are difficult by India's refusal to supply concessions in delicate classes like farm items and dairy merchandise. Trump has added additional stress by threatening extra duties on nations that proceed to align with Brics or buy oil from sanction-hit Russia.
Throughout the Indian authorities, there's additionally concern a couple of lack of readability within the tariff calls for made by the Trump administration, including one other layer of uncertainty as officers try and finalise a deal.
