The US has introduced a 25% tariff on absolutely assembled autos beginning April 3, which is able to prolong to auto elements from Could 3. These tariffs purpose to spice up native manufacturing however might lead to greater automobile costs and weakened demand within the US market.
The US is India’s second-largest export vacation spot for auto elements, with exports value $6.79 billion in FY24—about one-third of India’s complete auto elements exports. As almost 27% of Indian auto element exports are US-bound, this transfer might considerably impression Indian companies. The next knowledge, collated by ET Bureau, reveals main corporations’ income share coming from the US:
