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India's exports to US stay steady
India's exports to the United States have remained stable at around 20% of total exports, despite the imposition of punitive tariffs in 2019, which reached approximately 50% before gradually being reduced to 10% currently. India has actively diversified its trade relationships by signing agreements with the United Kingdom, the European Union, Oman, and New Zealand to reduce dependence on the American market. Nonetheless, the U.S. continues to be the largest destination for Indian exports in sectors like electronics, pharmaceuticals, and engineering products, and replacing it appears to be a long-term effort. Exports to China also grew by 42%, reaching $21.5 billion. There has been a noticeable increase in trade flows toward countries such as the United Arab Emirates, Australia, Tanzania, Vietnam, and South Korea. Meanwhile, India is working to expand its agreements to include markets in Latin America, the Middle East, and Africa, with the goal of supporting sustainable export growth.
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