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US President Donald Trump’s plan to impose a 25% tariff on imports of automobiles, semiconductors, and pharmaceuticals could negatively impact India, with the pharma sector being hit the hardest due to heavy reliance on the US market. While the semiconductor industry is not expected to be significantly affected, higher levies on auto parts could hurt the auto components segment, which saw a 7% growth to $11.1 billion in the first half of FY25, with North America accounting for 31% of exports. Pharma exports to the US reached $8.73 billion in FY24, making up 31% of the industry’s total exports, raising concerns for Indian drugmakers who heavily depend on American demand for growth.
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