India Navigates US Tariff Changes: Opportunities and Challenges Ahead

India, responding to US President Trump's new tariffs, is studying potential opportunities and challenges. The commerce ministry is engaging with stakeholders and exploring prospects arising from the tariff changes, while ongoing negotiations aim to enhance bilateral trade and partnerships with the US under the 'Mission 500' initiative.

In light of the new reciprocal tariffs imposed by US President Donald Trump's administration, India is proactively exploring the potential opportunities that these policies may present. On Thursday, the Ministry of Commerce indicated that it is meticulously analyzing the implications of the recent US trade measures.

An Executive Order released by the US President outlines additional ad-valorem duties between 10% and 50% on imports from all trading partners. For India, an additional duty of 27% is slated to take effect in April 2025. The commerce ministry is actively engaging with stakeholders to gather feedback from industries and exporters while evaluating the situation.

Prime Minister Narendra Modi and President Trump previously introduced 'Mission 500', an initiative to double bilateral trade by 2030. Talks are ongoing between the two nations to finalize a Bilateral Trade Agreement, with a focus on enhancing trade, investment, and technology collaboration. India values its strategic partnership with the US and remains committed to fostering transformative changes for mutual benefit.

(With inputs from agencies.)