India ‘spreads its bets’ to beat Trump’s 50% tariff as exports rise
With exports hitting a record US$825 billion and a spate of new trade pacts, India is finding success diversifying away from the US
After concluding the trade deal with New Zealand last month, Indian Commerce Secretary Rajesh Agrawal said in a social media post that it was the third such arrangement signed last year, following earlier pacts with the United Kingdom and Oman.
With discontent simmering over the steep US tariffs, the spate of new trade agreements drew praise at home, with internet users hailing India’s “productive year” and calling its trade signings a “master stroke”.
The US is India’s largest export market, receiving about 18 per cent of its total goods exports, including items such as garments and leather products, with a vast diaspora readily snapping up products shipped from their homeland.
