Indian FMCG giants mull new manufacturing units for exports to US as tariffs bite
such as
Amul
and
ITC
are evaluating alternative production base for exports to the US, which could include setting up factories in third countries having favourable
trade terms
or even in the US itself to navigate rising tariff-related uncertainties.
Parle Products, AWL Agri Business, and Godrej Consumer Products are also among those selling atta, noodles, biscuits, frozen products and dairy items in the US to stores owned by Southeast Asians, catering mostly to the Indian diaspora.
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While dairy brand Amul has been producing and selling milk in the US, making it more cost-effective, the company is now planning to extend it to cheese, paneer, and butter instead of importing from India, said Jayen Mehta, managing director.
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India Inc rallies behind roaring brand India as US tariff spat escalates
He said dairy products already attract a high 60-70% tariff in the US, and the additional duty announced by US President Donald Trump will make Indian exports to US unviable from the price point of view. "Such tariff burdens are always passed on to the consumers," said Mehta.
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President Trump on Wednesday doubled the tariff on India to 50%, leading local exporters to raise concerns about the impact on their operations. To be sure, exports to the US as part of the total export revenue is still in single digits for most consumer goods manufacturers in India, though it has been growing steadily.
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Trump tariffs cast a pall of gloom over India's exports, investments and Rupee
An industry executive said ITC may consider exporting biscuits, frozen food and shrimps, and ready-to-eat products from Dubai. A final decision will be taken after a few months to see whether the US government continues the high tariff regime on India. ITC currently packages atta in Dubai for exports to the US since India has an export ban on wheat and wheat products, the executive said.
The US has levied 10% and 25% tariffs on the UAE and Mexico, respectively.
Air-conditioner maker Blue Star managing director B Thiagarajan said the firm has the option to set up a plant in Mexico to cater to US.
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