Minister Urges Industry to Leverage FTAs for Increased EV Exports

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Kumaraswamy urges industry to leverage FTAs for EV export boost

The India–US trade deal
underscores how geographic revenue exposure will shape stock-specific outcomes in the auto and auto ancillary space. Companies with higher US dependence stand to benefit more from tariff relief, while diversified players gain stability. However, $8.3 billion of India’s exports to the US still face Section 232 tariffs, including automobiles ($3.9 billion), steel ($2.5 billion), aluminium ($800 million), timber ($370 million), copper ($547 million) and trucks & ships ($146 million), which remain subject to national security provisions—keeping risks in play despite broader tariff cuts.

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CNBC TV18•25-02-2026, 15:53

Kumaraswamy urges industry to leverage FTAs for EV export boost

•Steel Minister H.D. Kumaraswamy calls on Indian industry to use Free Trade Agreements (FTAs) to increase EV and value chain exports.
•India aims to be a global leader in electric mobility manufacturing and innovation, aligning with Atmanirbhar Bharat and Viksit Bharat 2047 visions.
•Electric mobility is seen as an industrial strategy offering strong manufacturing and supply-chain opportunities, not just a climate initiative.
•Minister highlights a ₹7,280-crore scheme to promote domestic manufacturing of Sintered Rare Earth Permanent Magnets (REPM) for critical minerals.
•India's automotive component exports nearly doubled to $16.9 billion; industry urged to pursue EV export opportunities with new FTAs.

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