Goyal Warns Against Trade Diversion By Other Countries

INDIA WOULD NOT allow itself to be used for transshipment of exports of countries facing high tariffs in the US as it will dent its image of a trusted trade partner, commerce and industry minister Piyush Goyal said Friday.

- FE BUREAU

The US has imposed 145% tariffs on imports from China while for other additional tariffs are just 10%. This difference is a major disruptor of global trade flows and is prompting companies to rethink their sourcing strategies.

"At no point of time will we allow India to become a route for transshipment or breaking the rules of origin so that other countries bring material into India, do a little bit of processing and supply it to a third country," Goyal said at the 6th India Steel International Conference.