India Eyes New Markets Amid US Trade Deal Limbo & High Tariffs
Business
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Moneycontrol•11-01-2026, 12:30
India Eyes New Markets Amid US Trade Deal Limbo & High Tariffs
- •India is actively pursuing trade deals with other countries to offset high US tariffs and open new markets for exporters.
- •Efforts to finalize a trade agreement with the United States have stalled, with US President Donald Trump increasing tariffs on India to 50% in August 2025.
- •This tariff hike threatens job losses and impacts India's manufacturing and export ambitions, pushing it to diversify trade partners.
- •India signed or implemented four trade agreements last year, including a major deal with Britain, and is negotiating with the EU, Eurasian Economic Union, Mexico, Chile, and Mercosur.
- •Expanding export destinations is crucial, especially given US tariffs aimed at curbing India's Russian oil purchases.
Why It Matters: India is aggressively seeking new trade partners to counter US tariffs and boost its export economy.
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