On Wednesday, US President Donald Trump announced 26 per cent reciprocal “Liberation Day” tariffs on India’s exports to the US, effective April 9, 2025, primarily targeting physical goods like electronics, textiles, gems, and jewellery.
Shetal Mehta, Co-Founder of Suchi Semicon, said India’s IT services sector remains unaffected, as the tariffs do not apply to service-based exports. This is significant, since IT services contribute substantially to India’s economy, with software services exports reaching $205.2 billion in FY24. The US remains the largest market, accounting for nearly 70 per cent of India’s IT export revenue.
