No additional tariffs by US on Indian pharma, electronics: Govt
In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said reciprocal tariff at the rate of 25 per cent has been imposed on certain goods exported from India to the US, effective August 7.
It is estimated that around 55 per cent of the total value of India's merchandise exports to the US is subjected to this reciprocal tariff, he said, adding that additional ad valorem rate of duty of 25 per cent with effect from August 27 has been imposed on certain goods exported from India.
"No additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals, and electronics as yet," Prasada said.
He also said the government is engaged with all stakeholders, including exporters and industry, for taking feedback of their assessment of the impact from the reciprocal tariffs imposed by the US.
"The government attaches utmost importance to protecting and promoting welfare of farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry," Prasada said.
He added that India is involved in the discussions on the India-US bilateral trade agreement (BTA) with the US with the aim to expand trade and investment through tariff stability and long-term trade predictability.
The negotiations are on since March 2025. So far, five rounds of negotiations have been held. The last was from July 14-18 in Washington. For the sixth round of talks, the US team is scheduled to visit India on August 24.
In a separate reply, the minister said the government continues to monitor the impact of additional tariffs imposed by the US on exports from India.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
2 minutes ago
- India Today
Aamir Khan, Gauri Spratt arrive in Melbourne for film festival. Video
The Bharatiya Janata Party held a press conference, making allegations against Congress leaders and the opposition. The BJP stated that Sonia Gandhi was on India's electoral roll in 1980 while she was an Italian citizen, prior to her acquiring Indian citizenship in 1983. A document from the 1980 electoral rolls, accessed by India Today and shared by Amit Malviya, indicates her name along with Indira Gandhi, Rajiv Gandhi, and Sanjay Gandhi from a Safdarjung address in Delhi. The BJP is questioning how her name appeared on the poll roll before she became an Indian citizen. The party also alleged that the Congress Party's top leadership has engaged in "vote chori" and used fake voters in constituencies won by opposition MPs, including those in Kerala, Uttar Pradesh, Bengal, and other states. Specific references were made to constituencies where Muslim names were allegedly added to voter lists. The BJP is attempting to turn the tables on the Congress and the larger opposition regarding electoral integrity. The core allegation is that 'Sonia Gandhi's name was in the electoral roll even before she was granted citizenship status in this country'.
India Today
2 minutes ago
- India Today
Perplexity move to buy Chrome is more bluster and less reality
If you look at tech headlines right now, you will see one news item dominating everything else: Perplexity AI wants to buy Google Chrome. What what? Yes, that is the right reaction to it, whether you don't know what this strange move is from Perplexity, which is helmed by CEO Arvind Srinivas, or whether you know about it all and are wondering what kind of magic trick Mr Srinivas is trying to pull here on Google CEO Sundar Pichai. The news in itself came out of the blue and caught people, even those who are in the know, by surprise. But the strangest part of the whole conversation is that it also seems totally are a number of reasons why the stunt from Perplexity is just that — a stunt. And probably a well-executed PR exercise. That is because Google Chrome is not on sale. Well, not yet. But the whole issue is also big enough, complete with a big figure of $34.5 billion on the table, to demand our attention. So, let's give it some. Is Google Chrome on sale? This is the first question we have to answer before we can talk about how the Perplexity bid to purchase Chrome for $34.5 billion is a bluster. On the face of it, Google Chrome is not for sale. Google Chrome is part of Google, and not a separate public company that can be acquired in a hostile takeover. If it has to be sold, then it will have to be sold by Google, and for now, Google has made no indication that it is going to offload its Chrome division. So, why at all is Perplexity making such a public offer? That is because of the antitrust ruling against Google, which forms the backdrop to this bid. According to The Wall Street Journal, US District Judge, Amit P Mehta — Srinivas, Pichai and Mehta, a lot of Indian-origin people are involved in this story — recently found that Google acted illegally to preserve its monopoly, mainly by paying billions of dollars to make its search engine the default on browsers and devices. The judge is now considering remedies, which could in theory include forcing Google to sell Chrome. Google, on its part, has said it will appeal. Until that appeal has been exhausted, there is little chance of an imminent forced but the chance is there. And it is this crack that Perplexity is exploiting as it makes its public bid. However, the ground realities also mean that it is nearly impossible for Perplexity to buy Chrome even if it were available. The key bit here is that Perplexity is just too small. The company has so far raised $1 billion from various sources, and its entire private valuation is estimated to be around $18 billion. In such a scenario, how it will fund a purchase of Chrome for $34.5 billion becomes an interesting question. The only way for the company to manage this would be with the help of borrowings or some sort of largesse from a bigger tech company. But that brings another question? Why would someone lend money to a (relatively) small company like Perplexity to purchase something like Chrome, which outside of Google, might not even be all that valuable? There are no good answers at the moment. A bluster and PR exerciseadvertisementInstead of being a serious bid, the move from Perplexity seems like a classic bluster that the Srinivas-led company makes from time to time. This three-year-old AI company is known for making bold public moves, and it is no stranger to headline-grabbing announcements. Earlier in late January, it wanted to buy TikTok's US operations. But that didn't go anywhere. More significantly, such announcements from Perplexity help it create a lot of buzz. One X user said that Perplexity CEO Aravind Srinivas has essentially bought himself 'free press' by getting millions of people to search for what Perplexity is. In the process, the company sets a price floor for Chrome if any real negotiations ever occur. Even if it never comes close to raising the money, it has already achieved a marketing is a view also endorsed by M G Siegler, a tech blogger and former partner at Google Ventures. Siegler is well-connected in Silicon Valley. On his website, Siegler wrote, 'Perplexity's move is clearly a publicity stunt, and I respect the hustle to continually get (media) to write about your company. And it has the added benefit of adding pressure to the antitrust case, trying to showcase to the judge that others would be willing to buy Chrome from Google.'Yes, that impact on the antitrust case that Google is fighting is another valid angle. Several commentators, including Siegler, have highlighted this. 'The Perplexity offer could be an attempt to signal to the judge that there is an interested buyer, should he force a sale,' he wrote on his another user on social media suggests the offer is really a 'stalking horse bid' designed to influence the antitrust case. The idea is that Perplexity's public interest in Chrome could weaken Google's argument that no viable buyer exists, subtly increasing the odds of a forced divestiture — a result that would benefit Perplexity even without a there you have it. Although the tech circles are busy with buzz around Perplexity and Chrome, a sale is not going to be possible at the moment. But chances are that the sale was also not the aim of Aravind Srinivas when he wrote his letter to Google CEO Sundar Pichai. Instead, the objective was likely to create buzz. And on that count, Perplexity has succeeded.- Ends
India Today
2 minutes ago
- India Today
Sensex ends 304 points higher, Nifty above 24,600; pharma stocks lead gains
Benchmark indices closed higher on Wednesday, buoyed by strong gains in pharma stocks following robust Q1 results from Apollo S&P BSE Sensex rose 304.32 points to 80,539.91, while the NSE Nifty50 added 131.95 points, finishing at 24,619.35. Broader market indices also ended the session in the green, as investor sentiment was lifted by favourable inflation data from both India and the Nair, Head of Research at Geojit Investments Limited, said, 'Indian equities experienced broad-based optimism as CPI hit an eight-year low, boosting hopes for a revival in discretionary spending, led by autos and metals. Midcaps outperformed, reflecting strong investor appetite." "Globally, sentiment improved on the extension of China's tariff deadline and easing oil prices. Despite uncertainties around Trump's trade stance and global risks, India's growth-inflation dynamics remain favourable for FY26 with risk to marginal downgrade based on tariff updates," he also said that India is looking forward to the Trump-Putin meet on August 15, and investors on Dalal Street are awaiting a positive outcome.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch
