The US added a 25% tariff on Indian imports from August 27 due to India buying Russian oil, raising total tariffs to 50%, hurting exporters
Kolkata
Chief Economic Advisor V. Anantha Nageswaran expressed optimism on Thursday that the tariff dispute between India and the United States could be resolved within the next 8–10 weeks, offering hope to Indian exporters. Speaking at a session organised by the Bharat Chamber of Commerce, he said talks between the two governments were progressing positively.
“My hunch is that in the next eight to ten weeks, we will likely see a solution to the penal tariff imposed by the US on Indian goods,” Nageswaran remarked. He indicated discussions also aimed to reduce reciprocal tariffs from 25 percent to around 15 percent.
The dispute began when the US imposed an additional 25 percent tariff on Indian imports from August 27, citing India’s purchase of Russian oil. This raised total tariffs on Indian goods to 50 percent, hitting exporters hard.
On the sidelines of the event, Nageswaran expressed hope that the recent call between Prime Minister Narendra Modi and US President Donald Trump would further ease trade tensions. He said ongoing conversations showed progress and a willingness on both sides to reach a settlement.
Meanwhile, a US delegation led by Brendan Lynch, Chief Negotiator for the India-US Bilateral Trade Agreement (BTA), visited India this week for discussions with Indian officials led by Special Secretary for Commerce, Rajesh Agrawal. The Commerce Ministry described the talks as “positive and forward-looking.”
Both nations have agreed to intensify efforts to conclude a mutually beneficial trade deal soon. According to ministry sources, negotiations are happening across several levels, supported by positive messages from both leaders. The outcome, observers say, could strengthen one of the world’s most important trade partnerships.
