India examines impact of Trump’s 27% tariffs, explores trade opportunities
New Delhi: In its first official response to US President Donald Trump’s reciprocal tariffs on India, country's Department of Commerce said on Thursday that it is carefully examining the implications of the measures and announcements made by Trump.
“The Department of Commerce is engaging with all stakeholders, including Indian industry representatives and exporters, to gather feedback on their assessment of the tariffs and analyse the situation. Keeping in view the vision of Viksit Bharat, the department is also studying potential opportunities that may arise due to this shift in US trade policy,” said the Ministry of Commerce and Industry in a press release.
The Finance Ministry also stated that discussions are underway between Indian and US trade teams to finalise a mutually beneficial, multi-sectoral Bilateral Trade Agreement.
“These negotiations encompass a broad range of issues, including supply chain integration, investment growth, and technology transfers,” the statement said.
The US has imposed a 27% reciprocal tariff on Indian imports as part of a wider trade policy targeting multiple nations.
"The US President has issued an Executive Order on reciprocal tariffs, imposing additional ad-valorem duties ranging from 10% to 50% on imports from all trading partners.
"The baseline duty of 10% will take effect from April 5, 2025, while the remaining country-specific additional ad-valorem duties will be effective from April 9, 2025. According to Annex I of the Executive Order, the additional duty on Indian imports has been set at 27%,” the press release stated.
Meanwhile, the Prime Minister’s Office (PMO) convened a high-level meeting on Thursday to assess Trump's tariff order.
The meeting, chaired by the Principal Secretary to the Prime Minister, was attended by senior officials from the Commerce Ministry, NITI Aayog, DPIIT, and other key departments.
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