Finance Minister Nirmala Sitharaman says further give and take is “very, very difficult”, while India’s exports to the US keep growing under a 10 per cent duty.
India and the US have reached a plateau in trade talks, Indian Finance Minister Nirmala Sitharaman said on 5 October, adding that giving or taking from here might be “very, very difficult”. Talks on a bilateral trade agreement began in February 2025, and an interim framework in February 2026 set out tariff cuts and purchase plans without closing the wider deal.
For exporters, the tariff picture has already shifted. A 10 per cent Section 301 duty has applied to Indian goods since 24 July, replacing a temporary 10 per cent surcharge that expired that day. India’s Commerce Ministry says about 45 per cent of its exports to the US fall outside the duty, and officials expect the measure to be replaced once the trade agreement is concluded.
Trade is still moving. India’s merchandise exports to the US were $8.4 billion in August, up 21.83 per cent on a year earlier, and $42.79 billion from April to August, up 6.17 per cent. For shippers, the question is whether the plateau holds while the 10 per cent duty stays in place.
Source: Outlook India.
