The industry chamber expected continuing collaboration with the US through a well-negotiated bilateral trade agreement (BTA) that is likely to come into effect in fall 2025.

The reciprocal tariff announced by the Trump administration can shave off India's GDP growth rate by up to 50 basis points to 6 per cent and the country's exports to the US could fall by 2-3 percentage points in the current fiscal,

India’s primary exports to the US include pharmaceuticals, telecom equipment, gemstones, petroleum products, gold jewellery, and ready-made cotton garments.