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Date: 30/01/2025

India’s exports of pharma, steel to US likely to see tariffs

The US administration is soon likely to impose tariffs on a clutch of products, including pharmaceuticals, aluminium and steel, said US President Donald Trump while addressing Republican House members in Florida. These are items of export interest to India. The President has spoken about India’s high tariffs several times, including at the hustings. The US is the biggest foreign market for Indian pharmaceutical producers, with a total share of 38.8% in the medicines imported by the country. In April-November 2024, India exported drug formulations worth $5.8 billion to the US. In 2023-24, pharma exports to the US were $8 billion. In April-November 2024, steel and steel product exports to the US were $2.3 billion and aluminium products exports stood at $516 million, as per a report.
 
Source: Exim News Service: New Delhi, Jan. 29



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