New Delhi, July 31 -- The Indian government has taken note of US President Donald Trump's decision to impose a 25 per cent tariff on India's exports starting Friday, and is studying its implications.

The Commerce Ministry said in a statement that India and the US have been engaged in negotiations on concluding a fair, balanced, and mutually beneficial bilateral trade agreement over the last few months. "We remain committed to that objective. The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs," it said in the statement.

The government further stated that it will take all steps "necessary to secure our national interest, as has been the case with other trade agree...