US 100% tariff threat: India has $200 bn alternative markets, says economist

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The Trump administration’s plan to impose 100% tariffs on countries purchasing Russian crude has raised fears for India’s exports. But economist SP Sharma told ANI that Indian exporters have 15 alternative markets worth a combined $200 billion, including the Netherlands, France, the UK, Saudi Arabia, and Nepal. India’s merchandise exports to the US stood at $87.3 billion in 2025-26. Sharma said exports to other markets are growing at 20-25%, faster than the 10-15% growth to the US. He added that steep tariffs would push up prices for American consumers and hurt the US economy.