Communication channels remain open between India and the US and efforts will continue to resolve the ongoing tariff issue, government sources said on Wednesday.
The US government has imposed a total of 50 per cent tariffs on Indian exports to America, barring a few sectors, beginning Wednesday.
“The impact (of the tariffs) is unlikely to be as severe as feared given the diversified nature of Indian exports,” the sources said, adding the communication lines are open between India and the US to resolve the issue.
The sources further said that there is no cause for panic as far as exporters are concerned, stressing “it is a temporary phase in a long-term relationship” between India and the US.