Trade diversification softens tariff hit

Exports to 13 of India's top 20 destinations grew in Sept even as US-bound shipments fell nearly 12%

- Rajeev Jayaswal

India posted an over 24% v-o-v jump in exports to $3.57 billion this September.

(AP)

India's strategy of trade diversification and its commodity-focused, country-specific export promotion drive considerably helped it in mitigating the adverse impact of high US tariffs on Indian goods last month while delivering double-digit annualised growth in exports to Spain, Brazil, China, Germany, Italy, the UK, the UAE, Saudi Arabia, Bangladesh and Hong Kong, official data showed.

According to the latest government data released on Wednesday, India saw positive growth in exports of 27 out of 30 major commodities and its shipments to 13 out of top 20 key export destinations saw a jump in September, the first full month in which Indian goods took a hit of 50% additional US tariffs .