Lok Sabha Question No. 1864 (UNSTARRED), answered on 2025-03-11
Subject: Impact of Tariffs imposed by US on Export
Ministry: COMMERCE AND INDUSTRY
Asked by: Ms Sayani Ghosh, Shri K Sudhakaran

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY (DEPARTMENT OF COMMERCE)

## LOK SABHA UNSTARRED QUESTION NO. 1864 ANSWERED ON 11/03/2025

## IMPACT OF TARIFFS IMPOSED BY US ON EXPORT

1864.  SHRI K SUDHAKARAN: MS SAYANI GHOSH:

Will the Minister of COMMERCE & INDUSTRY ( वाणिज्य एवं उद्योग मं त्री ) be pleased to state:

(a) the details of share of total exports that are directed to the United States, sector-wise;

(b) whether the Government has assessed/estimated impact of the reciprocal tariffs imposed by  the  Government  of  the  United  States  of  America  on  Indian  exports  during  the  month  of February 2025, particularly on sectors such as chemicals, metal products, jewellery, automobiles, pharmaceuticals and agriculture/food products;

(c) if so, the details thereof and if not, the reasons therefor;

(d) whether the Government is of the view that the reciprocal tariffs imposed by the USA will reduce India's overall export volume and revenue in the above mentioned sectors and if so, the details thereof and if not, the reasons therefor;

(e) the details of steps taken to compensate the loss of revenue;

(f) whether the Government has informed any objection on the issue and if so, the details thereof;

(g) the  details  of  measures  being  considered  by  the  Government  to  mitigate  the  adverse effects on Indian industries, including negotiations for a trade deal; and

(h) whether  the  Government  is  working  on  diversifying  India's  export  markets  to  reduce dependence on the US and if so, the details thereof?

## ANSWER

वाणिज्य और उद्योग मंत्रालय में राज्य मंत्री (श्री णिणिन प्रसाद)

## THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI JITIN PRASADA)

(a) Details of sector wise exports that are directed to United States for the year 2023-24 are placed at Annexure I .

(b) to (g) The U.S. has issued Memorandum on Reciprocal Trade and Tariffs on February 13, 2025, wherein the Secretary of Commerce and United States Trade Representative are to take necessary  actions  to  investigate  harm  to  U.S.  from  any  non-reciprocal  trade  arrangements adopted  by  trading  partners  and  provide  a  report  with  detailed  proposed  remedies  for  each trading partner, based on which, US action against relevant trading partner could, thereafter be undertaken under any of the relevant US legislations. As on date, reciprocal tariffs have not been applied by U.S. on India.

The Government of India continues to engage with the Government of United States to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner. Both nations  released  a  joint  statement  on  February  13,  2025,  reaffirming  their  commitment  to deepening economic ties. Under the ambitious "Mission 500", both countries aim to more than double  US-India  trade  to  USD  500  billion  by  2030  to  be  achieved  by  deepening  the  trade relationship  across  multiple  sectors.  Both  countries  plan  to  negotiate  a  mutually  beneficial, multi-sector  Bilateral  Trade  Agreement.  Both  countries  would  focus  on  increasing  market access, reducing tariff and non-tariff barriers, and enhancing supply chain integration.

(h) This is an ongoing exercise and Indian exporters are working towards diversifying trade basket and export destinations.

*****

Annexure I Annexure referred to in reply to part (a) of Lok Sabha Unstarred Question No.1864 due for Answer on 11.03.2025

(Values in USD million)

| S.No.   | Commodity                                             |   India's Export to USA in 2023-24 |   USA's share in India's Exports in 2023-24 (%) |
|---------|-------------------------------------------------------|------------------------------------|-------------------------------------------------|
| 1       | Carpet                                                |                             824.71 |                                           59.11 |
| 2       | Cashew                                                |                               8.06 |                                            2.38 |
| 3       | Ceramic Products and Glassware                        |                             625.11 |                                           14.61 |
| 4       | Cereal Preparations and Miscellaneous Processed Item  |                             442.72 |                                           15.52 |
| 5       | Coffee                                                |                              64.68 |                                            5.03 |
| 6       | Cotton Yarn/Fabs. /Madeups, Handloom Products Etc.    |                            2980.86 |                                           25.51 |
| 7       | Drugs And Pharmaceuticals                             |                            8731.44 |                                           31.35 |
| 8       | Electronic Goods                                      |                           10047.8  |                                           34.5  |
| 9       | Engineering Goods                                     |                           17624.3  |                                           16.12 |
| 10      | Fruits And Vegetables                                 |                             299.19 |                                            8.17 |
| 11      | Gems And Jewellery                                    |                            9907.23 |                                           30.29 |
| 12      | Handicrafts Excl. Hand Made Carpet                    |                             711.96 |                                           39.5  |
| 13      | Iron Ore                                              |                               0.01 |                                            0    |
| 14      | Jute Mfg. Including Floor Covering                    |                              78.84 |                                           23.27 |
| 15      | Leather And Leather Manufactures                      |                             835.52 |                                           19.51 |
| 16      | Man-Made Yarn/Fabs. /Madeups Etc.                     |                             706.95 |                                           15.11 |
| 17      | Marine Products                                       |                            2499.02 |                                           33.9  |
| 18      | Meat, Dairy and Poultry Products                      |                             180.27 |                                            3.98 |
| 19      | Mica, Coal and Other Ores, Minerals Including Process |                             472.86 |                                           10.1  |
| 20      | Oil Meals                                             |                              17.65 |                                            1.03 |
| 21      | Oil Seeds                                             |                              58.83 |                                            4.09 |
| 22      | Organic And Inorganic Chemicals                       |                            3895.23 |                                           13.26 |
| 23      | Other Cereals                                         |                               4.5  |                                            0.87 |
| 24      | Others                                                |                            3240.85 |                                           13.38 |
| 25      | Petroleum Products                                    |                            5830.05 |                                            6.93 |
| 26      | Plastic And Linoleum                                  |                            1668.88 |                                           20.62 |
| 27      | Rice                                                  |                             350.14 |                                            3.36 |
| 28      | Rmg Of All Textiles                                   |                            4719.04 |                                           32.47 |
| 29      | Spices                                                |                             572.46 |                                           13.47 |
| 30      | Tea                                                   |                              77.62 |                                            9.4  |
| 31      | Tobacco                                               |                              46.32 |                                            3.2  |
|         | Total                                                 |                           77523.1  |                                           17.74 |

Source: DGCIS

*****