According to Barclays Research, India is unlikely to reduce tariffs across the board, focusing instead on easing non-tariff barriers . Rec...
According to Barclays Research, India is unlikely to reduce tariffs across the board, focusing instead on easing non-tariff barriers.
Reciprocal U.S. tariffs could raise India's import duties from 2.7% to 15.7%.
India may counter this by increasing U.S. purchases and reducing non-tariff barriers.
The U.S. accounted for 18% of India’s exports in 2024, but only 1.6% of U.S. imports.
Agricultural exports are most affected, with India charging 40% tariffs while the U.S. charges 2.9%.
Barclays suggests India may not need to reduce agricultural tariffs despite U.S. threats.
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