US customers are requesting discounts of 15-25% on products ordered before the tariff hike, while Indian exporters face delays and pressure to absorb or share the additional costs.
The move, coming just a day before US reciprocal tariffs take effect on April 2, marks a significant push towards resolving longstanding trade disputes.
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The Indian ice cream market has grown significantly over the last decade, driven by rising disposable incomes, changing preferences, and expanding distribution channels, with projections to reach ₹45,000 crore by 2028.
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India aims to reduce compliance hurdles for UPI in cross-border payments, seeking Financial Action Task Force’s (FATF) support to enhance its global use and competitiveness in the international payments market.
Compared to major US trade partners like Mexico, China, and Canada — which collectively account for 50% of American imports — India is in a more advantageous position, according to Niti Aayog Programme Director Pravakar Sahoo.
Over 300 skilled jobs in the local supply chain will be part of new contracts signed with Bridgend-based companies Darlow Lloyd and Sons, Wernick Buildings, and Swansea-based business, Andrew Scott Ltd.
So far in FY 25, the AC industry has seen a good demand amid rising temperatures and increasing disposable incomes.
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