US Trade Deal
Exporters don't want US trade deal at cost of national interest, says govt source
This story was originally published at 14:45 IST on 9 August 2025
Register to read our real-time news.Informist, Saturday, Aug. 9, 2025
--Govt source: Exporters don't want US trade deal at cost of national interest
--Govt source: Govt to very soon roll out export promotion mission
NEW DELHI – Exporters, in consultations with the commerce ministry after the US announced a 50% tariff on Indian goods, communicated to the government that they don't want a trade deal with the US at the cost of India's national interests, a top official from the ministry said. Indian goods in the US are now subject to 25% duty, which is set to rise to 50% from Aug. 27.
Under the trade deal with India, the US wants access to India's politically and socially sensitive farm and dairy sector. India has always maintained a protective stance on its farm and dairy sector but the US wants to push genetically-modified crops and dairy products into India under the deal. New Delhi is unwilling to yield to these demands.
Since US President Donald Trump's announcement of extra tariffs on Indian goods, the commerce ministry has held multiple consultations with exporters to understand their concerns. The official, who participated in almost all the meetings, said that the exporters see a short-lived impact of the US tariffs.
India had exported goods worth $86.51 billion to the US in 2024-25 (Apr-Mar) and had a trade surplus of $40.82 billion. About 55% of India's export basket to the US now attracts significantly higher tariffs. The White House, in its tariff proposal, has exempted some sectors--pharma, energy, and electronics--from additional duty.
The government is likely to roll out the export promotion mission "very soon" to support the exporters, the official said, without giving a timeline. In the Budget for FY26, the government announced the export promotion mission with an outlay of INR 22.50 billion. There are likely to be several schemes under the mission to incentive exporters.
US$1 = INR 87.66
Reported by Krity Ambey
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
