India Not Looking At 25% Tariffs, Mini Trade Deal With US To Leave Tricky Sectors For Later: CII President

Confederation of Indian Industry President Rajiv Memani on Thursday expressed cautious optimism over the ongoing bilateral trade agreement talks between India and the United States, saying industry expectations have been clearly communicated and are being taken into account.

“We're not looking at a scenario where 25% tariffs persist. Relative competitiveness matters, and the Commerce Ministry has done very detailed preparation,” Memani said. Indian negotiators have actively consulted with key ministries, including agriculture, to ensure sector-specific concerns are factored in, he noted.

Memani, who took over as the head of India’s top industry body earlier this year, said there is confidence that the challenges faced by India Inc. will be addressed in the final contours of the deal. “In such negotiations, there are never 100% winners. What matters is arriving at a balanced framework that supports long-term growth and competitiveness,” he added.

He acknowledged that some contentious areas, particularly those with political sensitivities, may be held back for future tranches rather than being pushed through in the interim agreement.

The US is pressing for greater market access to Indian agricultural and dairy sectors, which are long-standing red lines for New Delhi due to concerns over rural livelihoods and food safety. In response, India is pushing for meaningful tariff concessions on its labour-intensive exports such as garments, footwear, and leather, which are major job creators.

An Indian delegation is in Washington to iron out differences and get a deal before the July 9 deadline for Trump's reciprocal tariffs.