US Tariffs to Slash Indian Exports by 30%?
A looming threat hangs over India’s export sector. Global Trade Research Initiative (GTRI) projections indicate a sharp 29.8% decline in Indian exports to the United States.
This potential drop, from USD 86.5 billion in 2024-25 to a projected USD 60.6 billion in 2025-26, is attributed to the recently implemented 25% reciprocal tariffs.
The GTRI report highlights the significant impact these tariffs will have on various Indian industries, potentially leading to job losses and economic slowdown.
The government is reportedly exploring various options to mitigate the impact, including bilateral negotiations with the US administration. However, the situation demands immediate and decisive action.
The projected decline underscores the urgent need for diversification of export markets and a renewed focus on enhancing domestic demand to cushion the blow from these escalating trade tensions. The coming months will be crucial in determining the actual impact and the government’s response to this economic challenge.
