No Additional Tariffs on Indian Pharma and Electronics Exports to the US

The Indian government announced that no new tariffs will be imposed on exports to the US in the pharmaceuticals and electronics sectors. However, a 25% reciprocal tariff is applied on other goods since August 7. India continues trade talks with the US to promote long-term trade stability.

In recent developments, the Indian government confirmed that no additional tariffs have been levied on Indian exports to the US, particularly in sectors such as pharmaceuticals and electronics.

Minister of State for Commerce and Industry, Jitin Prasada, informed the Lok Sabha of a 25% reciprocal tariff imposed since August 7 on certain exports to the US. This affects approximately 55% of India's merchandise exports to the US.

Prasada emphasized that robust discussions are ongoing with the US, aiming to expand trade and ensure tariff stability. Notably, negotiations for the India-US bilateral trade agreement have progressed through five rounds, with the sixth round scheduled in India later this month.

(With inputs from agencies.)