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Crude oil is already the biggest item of import from the US.

Last financial year it stood at $ 5 billion down from $ 10 billion in 2022-23.Concessions in agriculture could hit at the very base of our agriculture self sufficiency as the US gives very high subsidies to capture export markets, Dhar said.Retaliation on tariffs by the US could come in areas of manufacturing like electric vehicles, semiconductors where it is trying to build local capacity, Sahai said.In the past three years, smartphone manufacturers in India by Apple have emerged as one of the biggest exports to the US.

Experts do not expect duties there as the phone assembly is not a focus area of the US administration to revitalise manufacturing.“Even though Trump’s claims about Indian tariffs may be overstated, India can seize this moment to strategically review its tariff structure.

use ai to automate content creation for your product promotions and ads ✌️【365vc.net】✌️₹500 investment to unlock massive monthly income. Start now and grow your earnings online!A targeted reduction in tariffs could be advantageous for India, aligning with its goal of boosting low-cost, value-added manufacturing and trade,” GTRI’s founder Ajay Srivastava said.

“With 85% of tariff revenue generated by fewer than 10% of tariff lines, and 60% of lines contributing under 3% to revenue, India could lower its average tariff to around 10% without major revenue losses,” he added.If the Trump administration gets aggressive on tariffs India has an option to retaliate as it did earlier in 2018, Srivastava said.In 2018, when the US imposed tariffs on Indian steel and aluminum, India retaliated by increasing tariffs on 29 specific American products.

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Given the relations between the two leaders )Trump and Prime MinisterNarendra Modi) there is a possibility of better engagement,” Dhar added.Arunachal Pradesh CM Pema Khandu addressed concerns and misinformation about the Siang Upper Multipurpose Project, stressing its national significance in protecting the Siang River and its communities from Chinese hydropower developments.

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