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No additional tariffs by US on Indian pharma, electronics so far: 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.
"The Department of Commerce is engaged with stakeholders to help reduce the impact through export promotion and diversification measures," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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