New Delhi– India is optimistic that the United States will review the additional 25 per cent tariff imposed on Indian goods as a penalty for New Delhi’s continued purchases of Russian oil, government sources said on Tuesday.
The Commerce Ministry is holding a series of meetings this week with exporters from key sectors — including textiles, leather, gems and jewellery, and chemicals — to discuss strategies for boosting shipments to alternative markets. Officials also indicated that financial support could be extended to industries most affected by the U.S. duties.
“The ministry will meet stakeholders on the diversification of exports over the next two to three days,” an official said. The discussions will be part of the government’s broader Export Promotion Mission, announced in the Union Budget for 2025-26, which aims to reduce reliance on a handful of markets and expand India’s global trade footprint.
The tariffs are expected to hit exports worth more than $48 billion, with textiles and clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery among the most exposed sectors. Pharmaceuticals, energy products, and electronic goods, however, remain unaffected.
The U.S. has been among India’s largest trading partners in recent years. In 2024-25, Indian exports to the U.S. totaled $86.5 billion, while imports from the U.S. stood at $45.3 billion. Overall, the American market accounted for nearly 20 per cent of India’s total merchandise exports of $437.42 billion last year.
By stepping up engagement with exporters and accelerating promotional measures, the government is seeking to cushion the blow of the tariffs while deepening trade ties with new and existing global markets. (Source: IANS)
