Protectionism's Toll: India's Textile and Jewelry Exports Hit by US Tariffs

The United States imposed a sweeping 25% tariff on Indian exports, impacting roughly half of the $86 billion bilateral trade. However, sectors like pharmaceuticals and electronics remain exempt, safeguarding half of the exports from the levy.

Negotiations between Washington and New Delhi persist, particularly on contentious issues such as agricultural and genetically modified products. The sixth round of trade talks is scheduled for August 25 in India.

Export sectors, notably textiles and jewelry, urge immediate government intervention to offset economic damage. Stakeholders hope an early bilateral agreement will mitigate tariff challenges, as India stands firm on agricultural concessions.

(With inputs from agencies.)