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India to review tariff surcharge on luxury goods, renewables, chemicals amid US pressure

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India is set to review import tariffs on over 30 items including luxury cars and solar cells, potentially leading to higher imports from the United States, a senior finance ministry official said.
India is set to review its import tariffs and surcharges on luxury goods, renewable energy equipment, and chemicals in response to pressure from the United States, which has been pushing for lower trade barriers. This review, expected to conclude by June 2025, comes as part of ongoing trade negotiations and aims to address concerns raised by the U.S. regarding high tariffs that affect American exports. The Indian government is considering adjustments to its trade policies to potentially reduce these tariffs, which could benefit sectors like electric vehicles, solar panels, and high-end consumer goods. This move is also influenced by the need to comply with World Trade Organization (WTO) rules and to foster better trade relations with the U.S., one of its significant trading partners.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/india/india-review-tariff-surcharge-luxury-goods-renewables-chemicals-amid-us-pressure-2025-02-05/ ]