April 5th 2025.
According to sources, Indian exporters seem to have a better advantage in handling the recent additional US tariffs compared to their competitors. This is because other countries are facing much higher import duties in the American market. However, sectors like shrimp may be affected and it is important for them to explore new markets such as the European Union to continue their exports.
The US has recently imposed an extra 26% import duty on Indian goods, while Vietnam, China, Indonesia, and Thailand are facing 46%, 34%, 32%, and 36% tariffs respectively. With this, sources claim that India has emerged as a winner in the reciprocal tariffs imposed by the US. This can be attributed to India's first-mover advantage, as the country is currently in talks with the US for a bilateral trade agreement.
To support and assist domestic exporters in dealing with these tariffs, the commerce ministry is actively reaching out to them. Additionally, efforts are being made to prepare an export promotion mission. This will provide necessary support measures to help exporters continue their operations smoothly.
Furthermore, sources assure that India has taken steps to protect its dairy sector in all free trade agreements and will continue to do so. The ongoing trade war between the US and China may also prove to be beneficial for Indian exporters, as it opens up opportunities for them to increase their shipments.
In the event of any possibility of goods being dumped in the Indian market, sources state that the government is fully prepared to protect the domestic industry. With these measures in place, Indian exporters can continue to thrive and overcome any challenges posed by the current trade scenario.
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