Tariff Cut – India’s big step between trade deal from US, India cuts Industrial Tariffs AMID TRADE Talks with Us and Looming Reciprocal Tarifs from 2 April Tutc

US President Donald Trump had announced to impose recipes on India and fixed the date of April 2, 2025, which is very close. Meanwhile, India has announced the cut in tariffs and announced the cut. On Tuesday, the Commerce Ministry told the Lok Sabha that India has reduced its average industrial tariff to 10.66% in view of the ongoing trade talks with the US and the reciperook tariff. Minister of State Jitin Prasad has given this information in the House in response to a question.

State Minister of State to reduce tariffs
Minister of State for Commerce and Industry Jitin Prasad said that, according to WTO 2023, India’s simple average fee rate is 17%, while in 2023 the tariff on industrial goods was 13.5%, but the Union Budget 2025-26 has reduced the simple average industrial fee to 10.66 after 2025-26. He said that the two countries will focus on increasing the market access, solving tariffs and non-tariffs as well as resolving bilateral trade issues.

Estimates were being expressed in advance
According to a Business Today report, Minister of State Jitin Prasad has shared this information at such a time, while in many reports it is being speculated that India is considering the biggest tariff cut in recent years. Reuters’ reports quoting official sources as saying that India is considering to reduce tariffs on more than half of US dollars of US imports with aimed to deal with US President Donald Trump’s reciperookal tariff and this exercise is considered part of the exercise to save $ 66 billion.

The report said that the central government aims to reduce the impact of trade tariffs, which threatens about 87% of India’s exports to the US, which is an estimated $ 66 billion.