New Delhi, 26 March (PTI) liberating India from the placement of US mutual tariffs would help to facilitate smooth bilateral trade between the two countries, exporters say.
Any tariffs on Indian products would hurt a consignment to Washington, they said.
According to reports, US President Donald Trump said that car tariffs would come early, although he indicated that some countries could get an exception to mutual tariffs to be stored on April 2.
The Federation of Indian Export Organizations (FIEO) said India certainly deserves an exception or surrender from mutual tariffs because it is constructively involved in America at different levels and also for a bilateral business agreement.
“Mission 500 to require a bilateral business from about $ 200 billion to $ 500 billion required more pressure on a smooth trade, which will further facilitate the exception,” said Fieo Ajay Sai.
Another exporter said that an exception to India would remove tariff uncertainties and help further increase exports to the US.
The US has already deposited high tariffs in China.
However, Think Tank Gtri said it was very unlikely that India would receive an exception from the Trump era tariffs, especially due to the consistency of India Trump as a “high tariff” country.
“Any exception would come at a sharp cost.” Trump would demand far -reaching concessions from India in the industry far behind the trade. This could include the Starink Operations, the Tesla Entering Enterprise Moderation, the irrigation of the Civil Nuclear Responsibility Act, the abolition of the equalization fee to American technical giants, and the other, “the founder of the Global Business Research (GTRI) Ajay Srivastava said.
India has already announced the scrap of the leveling fee on technology giants such as Google.
He suggested that India should stand firmly and avoid compromises on strategic and national importance.
“If Trump deposits tariffs, whether it is. India is not alone. The whole world follows India. Trump tariffs, controlled more whims than principles, are unsustainable and eventually collapse under their own contradictions,” Srivastava said.
India and the US leaders started interviews on the proposed bilateral trade agreement on Wednesday.
To formally start negotiations on the contract, there is an assistant to the US sales representative for South and Central Asia Brendan Lynch together with a team of officials. There is a discussion with another secretary at the Ministry of Trade Rajesh Agrawal.
India and the USA focus on closing the first phase or tranches of the agreement by the autumn of 2025 (September-October).
While the US required more access to the market in sectors such as certain industrial goods, car, wines, petrochemical products and some agriculture objects, India can explore cuts for work -intensive industries such as textiles.
President Donald Trump’s plan to store mutual tariffs on countries, including India, from April 2. He said on several forums that India stored high tariffs on American goods.
The tariffs are imported obligations imposed and collected by the Government and paid by companies for bringing foreign goods to the country.
In 2024, India’s Main Exports to the US Included Drug Formulations, Biological (USD 8.1 Billion), Telecom Instruments (USD 6.5 Billion), Precious and Semi-Precious Stones (USD 5.3 Billion), Petroleum Products (USD 4.1 Billion) (USD 3.2 Billion), Ready-Made Garmnts of Cotton Including Accessories (USD 2.8 Billion), and Products of Iron and Steel ($ 2.7 billion).
Imports included oil ($ 4.5 billion), oil products ($ 3.6 billion), coal, coke ($ 3.4 billion), reduction and polished diamonds ($ 2.6 billion), electric machines ($ 1.4 billion), aircraft, space crafts and parts ($ 1.3 billion) and gold ($ 1.3 billion USD).
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