April 4, 2025
NEW DELHI – The Department of Commerce is carefully examining the implications of various measures and announcements made by US President Donald Trump regarding reciprocal tariffs, the Ministry of Commerce stated.
In line with the vision of Viksit Bharat, the Department is actively engaging with all stakeholders, including Indian industry and exporters, to gather feedback and assess the potential impact of these tariffs. It is also exploring opportunities that may emerge from this shift in US trade policy.
The Commerce Ministry reiterated that India values its comprehensive global strategic partnership with the United States and remains committed to working closely with the US to implement the India-US Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology (COMPACT) for the 21st century. The goal is to ensure that trade relations continue to drive mutual prosperity and transformative change for the people of both nations.
Union Minister of State for Finance, Pankaj Chaudhary, stated that India will thoroughly review and assess the impact of reciprocal tariffs.
Speaking to reporters, Chaudhary remarked: “For Donald Trump, it’s America First, and for Modi ji, it’s India First. We will analyze the situation, assess its impact, and determine the appropriate course of action.”
It is noteworthy that Prime Minister Narendra Modi and US President Donald Trump announced the Mission 500 initiative on February 13, 2025, aiming to more than double bilateral trade to $500 billion by 2030.
As part of this effort, discussions are ongoing between Indian and US trade representatives to expedite the conclusion of a mutually beneficial, multi-sectoral Bilateral Trade Agreement. These negotiations encompass a broad range of issues, including supply chain integration, investment growth, and technology transfers.
“We remain in active discussions with the Trump Administration on these matters and expect to make further progress in the coming days,” the Ministry of Commerce stated.