US tariffs won't hit India, says commerce ministry
India's Commerce Ministry has reassured a parliamentary panel that new US tariffs on pharmaceutical imports won't really affect the country.
Most Indian drug exports are generics, while the tariffs mainly target expensive patented medicines.
Officials also pointed out these tariffs apply to almost everyone except the EU, so India's standing against competitors like China isn't changing.
Seafood exports in trouble
It's a different story for Indian seafood—US tariffs here are steep (50%), making it tough to compete with countries like Ecuador.
To help out, India has signed free trade agreements with groups like the European Free Trade Association and has concluded a deal with the UK that is scheduled to take effect next year, which will drop duties on marine products.
These moves aim to keep Indian exports strong despite global tariff changes.