India eyes new markets with US trade deal limbo
Summary
India is pursuing multiple trade agreements with global partners to mitigate the impact of US tariffs and reduce dependency on the US market.
Key Points
- India is aggressively seeking new trade deals to open markets for exporters amid rising US tariffs.
- India signed four trade agreements last year, including a major pact with Britain, and is negotiating with the EU, Eurasian Economic Union, Mexico, Chile, and Mercosur.
- The US raised tariffs to 50 percent on Indian goods, prompting India to diversify its export markets beyond the US.
- Indian exporters acknowledge that alternative markets cannot fully replace the US, but diversification is crucial to reduce dependency.
