Will US tariffs exempt exports worth Rs 3 lakh crore?

In the wake of US President Donald Trump's announcement of 15% tariffs, there is information that about $ 34 billion (about Rs 3 lakh crore) worth of Indian exports may be exempted. According to Section 122 of the Trade Act-1974, these tariffs can be imposed for up to 150 days. However, it is expected that pharmaceuticals, electronics and civil aviation products may be on the list of exemptions from the tariff. India's total exports to the US in 2024 were recorded at $ 87.7 billion.

In particular, it seems that $ 10.6 billion worth of pharmaceutical exports, smartphones and communication equipment, and aviation products may come under this exemption. However, uncertainty continues as no official order has been issued. According to the Federation of India Export Organizations, it is believed that only 10% tariff is currently in effect. Union Finance Minister Nirmala Sitharaman said that she cannot say anything about the impact of these tariff changes right now.