Katra (Jammu and Kashmir) [India], April 6 : India has the upper hand amidst the reciprocal tariffs imposed by the Trump administration, said Ashishkumar Chauhan, Managing Director and CEO of National Stock Exchange, backing his argument, stating the duties slapped on India were less than others.
"US President Donald Trump has imposed import duty, there is a state of confusion all over the world, but India has an upper hand in that too, because the duty imposed on India is slightly less compared to China, Vietnam, so I think the situation will become normal in the next 1-2 weeks...," Chauhan told ANI, speaking from Katra.
"The tariffs imposed on India are relatively lower than those of other countries. Going ahead, India will do well during the negotiations (for a trade deal)," he supplemented.
On Friday night, April 4, the US market fell by about 2200 points. In the last 2 sessions, it has fallen by more than 9 per cent.
"So I think there is a kind of confusion there, too, and you can also see the reflection of the situation here (in India). As stability comes in the US, there is a possibility of stability coming here as well...," the NSE chief added.
"The way India and the US have been talking over the past 2-3 months, I expect this to benefit India," Chauhan noted that the latest fall in international crude oil prices is also going in favour of India, a major importer of energy.
Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.
On April 2, the US President issued an executive order on reciprocal tariffs, imposing additional ad valorem duties ranging from 10 per cent to 50 per cent on imports from all trading partners. The baseline duty of 10 per cent will be effective from April 05, 2025, and the remaining country-specific additional ad valorem duty will be effective from April 09, 2025.
The additional duty on India is 26 per cent.
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