The highest 100 US export merchandise account for 75% of India's whole imports from the US amounting to $42.2 billion in 2023-24. Whereas India's easy common tariff is 17%, the precise duties on key American imports are a lot decrease. The weighted common tariff on US exports to India is under 5%, a lot decrease than India's general tariff common.
As per the World Commerce Group (WTO), the US too imposes excessive duties on objects corresponding to dairy merchandise (200%), Vegetables and fruit (132%), cereals and meals preparations (196%), oilseeds, fat and oils (164%), Drinks and tobacco (350%), Fish and fish merchandise (35 %), and Minerals and metals (38%).
Whereas India imposes 150% on whiskey and wines and 100-125% on vehicles, it isn't alone in doing in order Japan levies round 400% obligation on rice, Korea 887% on vegatables and fruits, and the US 350% on tobacco as they shield home industries by imposing vital tariffs on sure objects.
The departments of commerce and income are working to resolve any information discrepancy as unsuitable information would result in increased tariffs. “The info on India's tariffs in worldwide databases have been on the idea of reported information whereas the US information usually attracts from the WTO,” mentioned an official.
In line with an ET evaluation of presidency information from each international locations since 2018, the US persistently data increased imports from India than New Delhi experiences as exports to the US. For instance, Washington reported $87.4 billion in merchandise items imports from India in 2024, whereas New Delhi recorded $80.7 billion in exports to the US – a niche of $6.7 billion. The hole was $8 billion in 2023.
