Trump's Tariff Tussle: India Faces 26% Blow, But Pharma and Tech Sectors Dodge the Bullet

Key Points:

  1. Tariff Details: The US has imposed a 26% reciprocal tariff on all Indian exports, except for specific sectors like copper, pharmaceuticals, and semiconductors. 

  2. Exempted Sectors:

    • Pharmaceuticals: A significant relief for India's pharmaceutical industry, which exports $8.7 billion worth of products to the US. 

    • Semiconductors: Essential for electronics manufacturing, their exemption could help maintain India's competitive edge in tech exports. 

    • Copper: Used in various industries, its exemption may support manufacturing sectors reliant on this metal. 

  3. Impact on Indian Exports:

    • Electronics and Gems & Jewellery: These sectors are expected to be heavily impacted, with $14 billion and $9 billion worth of exports, respectively. 

    • Agriculture: Despite tariffs, India's agricultural exports might remain stable due to higher tariffs on competing nations. 

  4. Trade Dynamics: The tariffs aim to address trade imbalances, with the US having a $46 billion deficit with India. 

  5. Competitive Advantage: India's electronics sector may gain an edge over competitors like China and Vietnam, which face higher tariffs. 

  6. Future Outlook: While some sectors have been spared, ongoing trade tensions could lead to further adjustments in tariffs and trade policies. 

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