India to Cut Tariffs Amid U.S. Trade Negotiations

India is considering significant tariff reductions on U.S. imports, totaling over $23 billion, to avoid President Trump's reciprocal tariffs, which are set to begin on April 2nd. The proposed cuts could include eliminating duties on items such as pearls, machinery, and automotive exports. Additionally, Finance Minister Nirmala Sitharaman announced that India will remove import duties on 35 items used in electric vehicle (EV) battery production and 28 items for mobile phone manufacturing. This decision aims to boost domestic production and enhance export competitiveness. The Indian government is actively negotiating a trade deal with the U.S., hoping to resolve tariff disputes and protect its exports, which are significantly impacted by the U.S. tariffs. These developments are part of broader efforts to reduce the trade deficit with the U.S. and support local manufacturers.