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Rising export dependence on US raises risk from Trump's tariffs
Business Standard
|April 03, 2025
India's growing dependence on the US for exports puts its merchandise shipments more at risk to reciprocal tariffs announced by President Donald Trump.
The US' share in India's merchandise exports has risen from 10.1 per cent in 2010-11 to 19.3 per cent during April-February FY25.
In contrast, the share of the US in India's total exports had continuously declined from 21.7 per cent in 1998-99 to 10.1 per cent in 2010-11, shows India's department of commerce data.
The US is India's largest merchandise export destination with shipments growing at 9.1 per cent to $76.4 billion during April-February FY25.
The Parliamentary Standing Committee on Commerce, in a report last year, observed that India must expand its focus beyond its "conventional markets" and explore export opportunities in areas where it holds a competitive edge.
Dit verhaal komt uit de April 03, 2025-editie van Business Standard.
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