FICCI Dubs Trump's 25 % Tariff Imposition On India As "Unfortunate"

The imposition of 25 per cent tariff on India by the U.S. President Donald Trump was not welcomed by the south Asian nation's top busines associations, with the Federation of Indian Chambers of Commerce & Industry (FICCI) describing it as “unfortunate”. 

"FICCI is disappointed by the decision taken by the U.S. to levy 25% tariff on exports from India and impose secondary sanctions. While this move is unfortunate and will have a clear bearing on our exports, we hope that this imposition of higher tariffs will be a short-term phenomenon and that a permanent trade deal between the two sides will be finalised soon," said FICCI President Harsha Vardhan Agarwal.

Similar sentinements prevailed when it comes to the penalty imposed on India with regards to its dealings with Russia for oil and military equipment. However, industry experts and FICCI have pinned their hopes for a bilateral trade agreement (BTA) given the long standing relationship of both nations.  

"There is a lot our two countries can achieve together, and FICCI is confident that following the detailed deliberations that are currently underway, we will see beneficial outcomes for both countries when the contours of the final trade agreement will emerge,” he said.

"We are hopeful that the two sides will make progress in their discussions and complete the negotiations by the September-October 2025," he said.

Also Read: ‘Could Have Been Worse': Trade Expert Biswajit Dhar On Trump's Tariff

While the US is an important market for Indian exporters, both in goods and in services and industry, India too offers a broad consumer base for U.S. enterprises and major companies benefit from leveraging the demand as well as the skills and talent pool that we have to offer.