The government is still evaluating the impact of American tariffs on the country’s chemical and petrochemical products industry, a senior official said Thursday.
“We are still studying. We are in contact with the industry and trying how an impact in our industry will have,” said the secretary of chemical and petrochemical products, Nivedita Shukla Verma, PTI on the sidelines of a rain of a rain of ideas here.
The president of the United States, Donald Trump, on April 9 reduced a planned reciprocal rate from 26 percent to 10 percent, only one week after announcing the highest rate on April 2.
The Government will determine the measures after the discussions with the actors in the industry, added Verma.
According to industry data, chemicals constitute approximately 18 percent of the total exports of India to the US, with exports for the fiscal year24 valued at around $ 5.7 billion.
India’s qualifications and investigations estimates that the increase in rate could reduce chemical exports by $ 2-7 billion in fiscal year 2016.
Industry experts said that the increase in rate increases the substance of costs for exports of Indian chemicals to the United States, which probably reduces the demand for special chemicals and intermediates.
Indian petrochemical exports to the United States, valued at approximately $ 4 billion in 2024, can see a reduced demand, thought that some subsegments of oil oil could be exempt, softening the impact.
American tariffs on Chinese chemicals have also caused groups about the spill, since Chinese companies that face economic deceleration and surplus capacity can flood India and other global markets with cheaper products, potentially global.
Previously, in a brainstorm session, Verma emphasized the long -term development of the Indian chemical and petrochemical sector, including discussions on infrastructure development specifically designed for the chemical industry.
Posted on April 17, 2025