Quotes
The ongoing talks are focused on enabling both nations to grow trade, investments and technology transfers. We remain in touch with the Trump Administration on these issues and expect to take them forward in the coming days,
the statement said
The tariffs could also shift competitiveness in India’s favour in sectors where other regional exporters are more severely impacted. To maximise this advantage, India must not only negotiate with the US to maintain market access but also collaborate with FTA partners in Asia to restructure supply chains and seize new opportunities,
said Agneshwar Sen, Trade Policy Leader, EY IndiaIndia values its Comprehensive Global Strategic Partnership with the United States and is committed to working closely with the US to implement the India-US ‘Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology’ (COMPACT) for the 21st century to ensure that our trade ties remain a pillar of mutual prosperity and drive transformative change for the benefit of the people of India and the US,
it addedThe Department of Commerce is engaging with all stakeholders, including Indian industry representatives and exporters, to gather feedback on their assessment of the tariffs and analyse the situation. Keeping in view the vision of Viksit Bharat, the department is also studying potential opportunities that may arise due to this shift in US trade policy,
the Ministry of Commerce and Industry said in an official statement
As the situation is very grave with the approach of the reality of a global tariff war, the government must pour out all of its capabilities at its disposal to overcome this trade crisis,
Han said, according to The GuardianJapan is a country that is making the largest amount of investment to the United States, so we wonder if it makes sense for (Washington) to apply uniform tariffs to all countries,
the prime minister saidIt ends up driving higher prices for US consumers, higher inflation, slows down growth and as a result that puts real pressure in across the world,
he addedIndia is in a much better position (in terms of tariffs) ... compared with the stack of countries which we compete with in the solar domain in the U.S.,
Paithankar said in an interview
As an industry, we (India) should see how to have a much larger pie of the overall American market (due to relatively lower tariffs),
Paithankar saidWhile there could be challenges for exports of certain products like smartphones, diamonds, jewellery items and certain textiles, the relative tariff arbitrage vis-à-vis other US trade partners such as China also presents a significant opportunity for Indian exports in the US,
said Gautam Khattar, principal, Price Waterhouse & Co LLP
The imposition of higher reciprocal tariffs by the US on several Asian countries including China, Vietnam, Taiwan, Thailand and Bangladesh presents an opportunity for India to strengthen its position in global trade and manufacturing. However, gains will not accrue automatically. India needs deep reforms for enabling scale production, domestic value addition and improving competitiveness to benefit,
wrote Ajay Srivastava, founder, Global Trade Research Initiative, in a note analysing the reciprocal tariffsChina’s survival response to massive tariff blow will matter for India, amid its excess industrial capacity and dumping in the world and Asian markets. While we negotiate with the US and other trade partners, we might have to protect against Chinese responses (read tariffs), which could immediately hit domestic industries, and will have a disinflation impulse.”
On Thursday, the firm’s chief economist Madhavi Arora saidThe US President issued an Executive Order on Reciprocal Tariffs imposing additional ad-valorem duties ranging from 10% to 50% on imports from all trading partners. The baseline duty of 10% will be effective from April 05, 2025, and the remaining country-specific additional ad valorem duty will be effective from April 09, 2025. The additional duty on India, as per Annex I of the Executive Order, is 27%,
the Ministry said
The tariffs slapped on India are definitely both high and higher than expected, which will hurt demand for our exports,
Ajay Sahai, director general of the Federation of Indian Export Organisations, told AFP
Asia has been hit much more than India on tariffs,
said Madhavi Arora, chief economist at Emkay Global Financial ServicesMany countries which we compete with globally, including China, Indonesia, and Vietnam etc, have been hit harder than us,
he saidThe negotiations cover a wide array of issues, such as supply chain integration, investment enhancement, and technology transfers,
the statement addedDiscussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral Bilateral Trade Agreement,
the statement saidOur ally has suddenly decided to impose a 26 per cent tariff, which is going to completely devastate our economy – our auto industry, pharmaceutical industry, and agriculture are all in line,
Rahul Gandhi said
Someone once asked Indira Gandhi ji in the matter of foreign policy whether she leans left or right
Further, contrasting Congress' stance with the BJP and the RSS, Gandhi said