US tariffs: Calls grow louder for PLI push to mitigate looming trade risks

As the United States (US) imposes reciprocal tariffs on India, expanding the production-linked incentive (PLI) scheme may be key to upholding the ambitious ‘Make in India’ initiative and mitigating the potential trade impact, say experts.

 

US President Donald Trump has announced reciprocal tariffs of 27 per cent on imports from India effective April 9. 

 

However, certain goods – pharmaceutical products, semiconductors, lumber articles, copper and gold, energy resources and select minerals – have been spared the rod. Moreover, steel, aluminium, automobiles, and auto components are already covered under Section 232 duties.

 

Economists feel that the latest tariffs announced by the