New Delhi, April 3 -- As the US has announced about 27% tariff on imports from India, petroleum products exports to the country are set to witness a major impact going ahead, said sector experts.

A bulk of the petroleum exports to the US from India comprises of petrol or gasoline.

According to Deepak Mahurkar, leader, oil & gas at PwC India, the tariffs may lead to an increase in trade deficit for India. "The 27% duty on imports of petroleum products into the US from India of about $6 billion in 23-24 (FY24) will significantly get affected. The trade deficit on just the account of petroleum crude at about $5 billion will further widen."

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