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Top sources say while India is ready to cut the tariff on some American products, it will ensure that the move does not hurt farmers in India
Piyush Goyal will look to seal a trade deal with the US. (PTI File)
Amid the tariff war, Commerce Minister Piyush Goyal is all set to land in the United States of America (US) armed with some good statistics on India’s trade front.
According to figures released by the commerce ministry, India’s trade has seen an upswing.
A look at the figures from the ministry:
- Total exports (merchandise and services) in April 2025 are estimated at US$ 73.80 billion, compared to US$ 65.48 billion in April 2024, an estimated growth of 12.70%.
- Merchandise exports in April 2025 were worth US$ 38.49 billion, compared to US$ 35.30 billion in April 2024, registering a positive growth of 9.02%.
- Electronic goods exports increased by 39.51% , engineering goods exports increased by 11.28%, gems and jewellery exports increased by 10.74%, rice exports increased by 13.63%, marine products exports increased by 17.81%
These figures matter as the government will have to battle the tariff war. America has been insisting on a big tariff cut from India. And this would be a challenge for Goyal and his team as they sit across the table to negotiate.
Top sources say that while India is ready to bend on some American products such as cashews, pistachios, almonds, corn (maize), a variety of rice, a few varieties of fruits such as apples, pears, some non-competitive automobile parts, and a few car brands such as Tesla. However, it will ensure that it does not hurt the interest of the farmers in India, given that it’s an agrarian economy .
“This is actually an opportunity. In the past five years, India has added 50 new nations to our list of the countries we export to. This shows that we have been and will look for new markets and opportunities. In fact, this adds to the competitiveness to the indigenous industry back home here,” said sources.
Sources say India hopes that America encourages American brands to open their manufacturing units in many parts of the country. On a recent controversy triggered by US President Donald Trump, when he told Apple chief Tim Cook not to manufacture in India, sources said that politicians don’t always run business and they have been given an assurance that Apple does not plan to reduce its manufacturing in India.
Given the spurt in many Indian products such as gems, marine products and pharma, India hopes that America would accept and concede the power of India in these sectors.
The PM has a meeting with fishing sector officials and he, according to sources, said that this is a sector where India can grow big and look beyond America which remains its highest marine sector importer.
United States is India’s largest trading partner, with bilateral trade reaching $129 billion in 2024. India maintains a trade surplus of $45.7 billion with the US. While India is looking at new markets, it doesn’t want to lose out on America.
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