'Reciprocal tariff to impact pharma, textiles sectors most'

With $87.4 billion, of the $322-billion merchandise exports in 2024, coming from the US alone, which has threatened to slap 25% duties on our shipments from april 2, is our largest trading partner with 27% of all exports.

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Of this, domestic companies have shipped goods worth $87.4 billion to the US, up 4.5% from 2023, while we imported goods worth $41.8 billion, up 3.4% from them, taking the bilateral trade to close to $130 billion. But with reciprocal tariffs getting kicked off from next month (no word on services tariffs yet), exports face an uncertain future. amidst this rising uncertainty, the export and Import Bank of India (exim Bank) has held discussions with exporters and also provided their inputs to the commerce ministry on the potential impact of the duty hikes on our exports, which will be significant, Deepali Agrawal, deputy managing director, exim Bank, tells TNIe’s Benn Kochuveedan. edited excerpts:

The US has announced 25% tariffs on our goods exports. What is Exim Bank’s assessment of the impact of the trade war on our exports?