ET Graphics: India eyes export boost as US tariffs hit rivals harder

The 26% reciprocal tariff imposed by the US on India is lower than tariffs on countries like China (54%), Vietnam (46%) and Bangladesh (37%), offering India a relative competitive edge, experts say.

Commerce Minister Piyush Goyal on Monday said India has significant flexibility to engage bilaterally with developed nations that follow fair trade practices, but must use tariffs to guard against unfair trade, such as predatory pricing and hidden subsidies.

“Exchanged perspectives on the Indo-Pacific, the Indian Sub-continent, Europe, Middle East/West Asia and the Caribbean,” Jaishankar wrote on X. “Agreed on the importance of the early conclusion of the Bilateral Trade Agreement,” he added. This is the first high-level conversation between the two countries following Trump’s announcement of reciprocal tariffs on global trading partners. India […]

Commerce Minister Piyush Goyal on Monday said India’s applied tariffs on the U.S. average just 7–8%, calling them moderate and necessary to guard against unfair trade practices. In contrast, the U.S. recently imposed a 26% reciprocal tariff on India. Goyal declined to share details of the ongoing negotiations but emphasized that India is open to […]

By initiating a tariff war, the US has caused disruptions resulting in India gaining a significant portion of its dairy export market. Numerous countries in India’s vicinity are likely to raise import duties on US products in retaliation, positioning India to capitalize on the opportunity to access newer export markets.

Developed countries are easing their stance on including non-trade issues like sustainability and environment in free trade agreement negotiations with India. This shift may help ongoing trade talks with the EU and UK. India prefers discussing non-trade issues at international platforms specifically meant for them. The EU’s trade barriers like the Carbon Border Adjustment Mechanism […]

The Environment Ministry’s panel cleared the import of genetically modified alfalfa hay from the US, but final approval from India’s Agriculture Ministry is pending. The US has raised concerns during trade talks, and India is expected to address these issues soon.

Indian customs authorities are speeding up US-bound shipments to beat the April 9 deadline for a 26% reciprocal tariff announced by the Trump administration. Exporters are fast-tracking consignments to minimize costs due to new tariffs. Authorities aim for smooth clearances, especially for perishable items, as goods exports growth is crucial for future fiscal targets.

Developed nations are now showing flexibility in free trade agreement (FTA) talks by de-emphasizing non-trade issues like climate and sustainability. Instead, they’re focusing on trade first, suggesting other concerns can be addressed later. India supports separating such issues, preferring platforms like the ILO and UNFCCC.