India's engineering goods export to be impacted by "reciprocal tariff" by US
Kolkata, April 4 -- As the US is the top export destination for
Indian engineering exports, the sector would be impacted at least in
the first year,
or till India expands its presence in other markets, the EEPC India
said on Friday.
" Indian engineering exports to the US stood at $17.27 billion in the
April-February period of the financial year 2024-25, registering a
year-on-year
growth of 8.3 percent as compared to $15.95 billion in the
April-February period of FY2023- 24," EEPC India chairman Pankaj
Chadha said.
The reciprocal tariff proposed to be imposed on India is 27 pc. " This
is high enough to impact exports from India and hit the businesses,"
Chadha predicted.
The Trump administration announced a 25 pc duty on all steel and
alumini...
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