US 50% tariffs hit India today: Which sectors will suffer the most?

​​ET looks at India’s trade with the US and how it fares viz-a-viz its competitors.

The Indian seafood industry, a major shrimp exporter to the US, faces challenges due to a 50% tariff increase. Export shipments are paused as both exporters and importers await market adjustments. US consumers will likely bear the brunt of the higher costs, as India’s value-added seafood products are difficult to replace immediately.

Indian gems and jewellery exporters are worried about the impact of the 50% tariff imposed by the US. They have approached the Reserve Bank of India for support regarding working capital. Exporters are also exploring rerouting shipments through countries with lower tariffs like Dubai and Mexico. Surat’s diamond industry fears job losses after Diwali.

India and the US held virtual talks focusing on strengthening their relationship. Discussions covered trade, investment, and critical minerals. Energy security and civil nuclear cooperation were also key topics. Both countries aim to increase defense cooperation. They plan to sign a new 10-year framework for defense partnership. The nations reaffirmed their commitment to a prosperous […]

The United States has announced a sharp increase in tariffs on Indian imports, doubling duties to 50 per cent from August 27. The move is aimed at pressuring India over its continued purchase of Russian oil as Washington pushes for an end to the war in Ukraine. New Delhi has strongly rejected the secondary tariffs, […]

Senior Japanese executives highlight India’s investment potential. They cite economic growth, demographics, and regulatory stability as key factors. Government initiatives like Make in India are also attracting foreign investment. Japanese firms see India as a prime destination due to its vibrancy and growth. Many Japanese companies operating in India are profitable.

Indian exporters are in a hurry to complete US orders before the increased tariffs take effect. Diamond jewellery, textiles, and marine products are being shipped quickly. Many factories are working overtime to meet the August 27 deadline. Air cargo is being used despite higher costs. Some exporters are exploring alternative routes via Dubai to reduce […]

Union Agriculture Minister Shivraj Singh Chouhan stated that India resisted US demands to import agricultural goods. This decision protects Indian farmers from unfair competition. Chouhan highlighted Prime Minister Narendra Modi’s call to buy indigenous products. He emphasized India’s confidence and talent. Relations between India and the US are strained due to increased tariffs.

The Indian government has lowered the minimum export price (MEP) for natural honey from USD 2,000 to USD 1,400 per tonne until December 31, 2025, as announced by the Directorate General of Foreign Trade. This revision, effective immediately, aims to boost exports, which reached USD 177.52 million in 2023-24, with key destinations including the US, […]

Madhya Pradesh aims for self-reliance and seeks central support for progress. The state focuses on growth without borrowing and has narrowed its fiscal deficit. Exports contribute significantly to the state’s economy. Madhya Pradesh encourages investments through reforms, incentives, and streamlined processes. The state promotes job creation and aims to double its budget in five years.