India to review US reciprocal tariffs, report by March 15
With the US set to impose reciprocal tariffs on trading partners by April 2, the Indian government has formed a high-level committee to review tariff relief on imports from the US.
The panel, operating under the Union Commerce Ministry, is expected to submit its report by March 15 to both the Commerce and Finance Ministries.
According to sources, the review is focusing on tariffs currently set at 15–20%, 50–70%, and 70–80%, assessing whether adjustments can be made using the “8-digit code” that identifies specific products for customs purposes. The committee’s mandate is to closely examine imported goods and recommend tariff modifications where necessary.
Once the recommendations are finalized, they will require approval from the Prime Minister’s Office before implementation. Reports indicate that India has already been proactive in addressing concerns about high tariffs on foreign goods.
The panel’s findings will play a key role in shaping India’s response to the US’s proposed tariff changes.
In the Union Budget 2025-26, India reduced import duties on bourbon whiskey (from 150% to 100%) and lowered tariffs on products such as fish hydrolysate, scrap materials, satellite equipment, ethernet switches, and high-end motorcycles.
Meanwhile, India’s semiconductor exports to the US remain minimal, meaning the country is unlikely to face any immediate impact from the new US tariff policies. Domestic automakers are also expected to remain unaffected, as their primary market is India.
Similarly, the US steel tariffs are unlikely to significantly impact India, as only 2% of India’s total finished steel exports in the first nine months of this fiscal year were directed to the US, according to a Crisil Intelligence report.
