US begins refunding over $10bn in tariffs to Indian exporters
Big news for Indian exporters: The US refund process for over $10 billion in tariff refunds has started moving for Indian exporters, with small amounts already remitted in some cases, on goods like textiles, engineering items, leather, and jewelry between August 2025 and February 2026.
After the US Supreme Court called these tariffs unconstitutional in February, both US Customs and Border Protection and India's central bank stepped in with clear rules to get refunds moving.
Freight forwarders or importers receive refunds
Who gets the money depends on who paid the duties: sometimes it's freight forwarders, sometimes importers.
If importers paid up front, they'll need to work out deals with exporters to share the refund.
To make things easier, Indian banks can now open special accounts for these payments, and digital payment gateways are helping speed up transfers.
Small payouts have already started; larger refunds are expected to follow gradually.