Now Reading: India eyes $200 bn alternate markets if US slaps 100% tariffs
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India eyes $200 bn alternate markets if US slaps 100% tariffs
The US plans to slap a 100% tariff on countries that buy Russian crude, raising concerns over India's exports to America. But economist SP Sharma told ANI that India can redirect its…
The Story in Brief
The US plans to slap a 100% tariff on countries that buy Russian crude, raising concerns over India's exports to America. But economist SP Sharma told ANI that India can redirect its exports to 15 alternative markets worth a combined $200 billion, more than double the $87.3 billion India shipped to the US in 2025-26. These markets include the Netherlands, France, the UK, Latin America, Saudi Arabia, the UAE and Nepal. Sharma added that India's exports to these destinations are growing at 20-25%, compared to 10-15% for the US. Higher tariffs, he argued, would also fuel inflation for American consumers.
The Indian Opinion
The talk of a 100% US tariff on Russian crude buyers has revived the tired claim that India is dangerously dependent on America. In truth, Indian exports to the US grew only 10-15% last year, while shipments to 15 other markets rose 20-25%. A $200 billion pool of buyers, from the Netherlands to Nepal, stands ready. The real test is whether Indian exporters can actually tap these markets fast enough, and whether the bilateral trade deal under negotiation will make tariff threats academic altogether.
Source: timesofindia.indiatimes.com
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