India's Exports Still Have Room to Grow Even If Trump Walks the Talk for 10% Additional Tariff

Even as India and the United States of America move closer to concluding a long-anticipated trade agreement, a new report by SBI Research suggests that India has significant room to grow it’s exports, regardless of whether the deal delivers all it promises. “We believe that even if the India-USA deal does not come up as desired and 10% additional tariffs are imposed on India, there are various avenues for India to diversify it’s exports,” the report notes. The note comes as USA President Donald Trump signaled that BRICS nations including India, will “pretty soon” face a 10% tariff under his renewed push for reciprocal trade. Titled “Tariff Truce on the Horizon: India, USA Set to Seal the Trade Deal”, the report highlights that recent tariff hikes by the USA on 23 countries have reshaped global trade dynamics. India, relatively less affected by the new tariff regime is now well-positioned to capture market share in key sectors such as chemicals, apparel, agricultural goods and processed foods both in the USA and in tariff-impacted Asian markets.

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