India is exploring tariff reductions on select US imports, with key government departments actively discussing the matter. While deliberations are still in the early stages, no final decision has been made.
A comprehensive review of import categories and existing duties is underway to assess potential reductions to strengthen trade and economic ties between the two nations.
Some key product categories that may see lower basic Customs duties include:
- Medical & Scientific Instruments (7.5%-10%)
- Cruise Ships (10%)
- Aircraft (2.5%)
- Spacecraft (10%)
- Cars (100% for CIF value above $40,000, 70% below this threshold)
- Turbo Jets/Propellers (7.5%)
- High-End Jewellery (20%)
- Gems & Jewellery (20%)
- Footwear (35%)
- Plastic Polymers (7.5%-15%)
- Organic Chemicals (7.5%)
In 2024, India’s imports from the US reached $35 billion, reflecting a 6.7% increase from the previous year.
While discussions on tariff cuts continue, stakeholders closely watch developments that could impact trade flows between countries.
Stock Insights? Let the Analyst Guide You.
Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!
