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India is not expected to suffer much loss due to the US government’s move to impose retaliation on its business partners, as there is a lot of difference in the export of both countries.
The Economic Research Institute Global Trade Research Initiative (GTRI) said that if the US imposes 50 % of Indian pistachios, because India also levies the same fee, then it will not make any difference to India because it does not export pistachios.
GTRI founder Ajay Srivastava said that the average fee at 75 % of American exports to India is less than five %. In contrast, India is facing high American fees on many labor-dominated goods such as textiles, apparel and shoes, between 15-35 % on many products.
Ajay Srivastava said, ‘Given the difference between the export kheke (profile) of the two countries, the counter duty will not have any significant impact … (US President Donald) In the second term of Trump, in April, on counter -duty of America India can wait for the decision and then take equal level retaliation like June 2019.
Prime Minister in Washington Narendra Modi After the talks with, Donald Trump announced that India would buy more oil, gas and military equipment from the US to reduce trade deficit, but insisted that America would not refrain from imposing counter -fees on India.
Regarding the trade agreement, he said that although its details are not yet clear, it could be a limited agreement on retaliation, which is expected to be announced in April. The US has already announced a fee of 25 % on steel and aluminum, which is beyond its retaliation action.
GTRI also said that it is not clear from the US whether the counter -duty will apply to specific products or to the entire region. During April-November 2024-25, the US was India’s second largest trading partner with US $ 82.52 billion bilateral trade (export of US $ 52.89 billion, US $ 29.63 billion imports and US $ 23.26 billion trade surplus) .
America was the largest business partner in India during the year 2021-24. America is one of the few countries with which India’s trade surplus is. The US was India’s largest trading partner in 2023-24 with US $ 119.71 billion bilateral trade (exports of US $ 77.51 billion, import of US $ 42.19 billion and US $ 35.31 billion trade surplus). Trade surplus is an economic indicator of a positive business balance in which a country’s exports are more than its imports.
