Media365
India on Saturday said it will continue negotiations with the United States to finalise a bilateral trade agreement, a day after the President Donald Trump administration imposed a 10% tariff on imports from India under its revised trade measures targeting multiple countries.
In a statement, the Commerce Ministry said the government remains committed to concluding the proposed India-US trade pact at the earliest and will continue discussions with Washington on sector-specific issues, including textiles.
The fresh US tariff, announced on Friday, applies to imports from 60 trading partners, with Washington alleging that the affected countries had failed to adequately curb imports produced using forced labour. For India, however, the latest duty is lower than the 12.5% tariff proposed in June.
The ministry said the revised tariff also excludes several key Indian export categories, including generic pharmaceuticals, smartphones, steel, aluminium and auto parts.
The two countries have been negotiating a trade agreement since last year as they seek to deepen economic ties and resolve long-standing market access issues.
”The government remains committed to working with the United States towards the early conclusion of the India-US Bilateral Trade Agreement,” the ministry said.
It said about 45% of India’s exports to the United States would remain outside the scope of the fresh tariff because of product exemptions, while the remaining 55% would face the new 10% duty.
The fresh levy applies on top of standard U.S. most-favoured-nation tariffs.
Reuters reported on Friday that Indian textile and apparel exporters are likely to be at a disadvantage against several Asian rivals under the new tariff regime.
With inputs from agencies
