India's Trade Surge: Navigating Tariffs and Opportunities
India's exports to the US increased by 27.3% to USD 8.42 billion, while imports grew by 63.76% to USD 5.24 billion in April. Exporters expedited deliveries to avoid US tariffs. Exports to China also rose. The top export destinations were US, UAE, Australia, Tanzania, and Kenya.
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- India
In a significant trade development, India's exports to the United States grew by 27.3% to reach USD 8.42 billion in April. This comes amid a notable 63.76% rise in imports from the US, which hit USD 5.24 billion, as per the latest data from the commerce ministry.
Trade experts have highlighted a strategic push from Indian exporters, who rushed to fulfill orders ahead of potential tariffs announced by the Trump administration, which were temporarily suspended until July 9. This move was seen as an effort to mitigate any economic impacts.
Beyond the US, India's trade relations with China also saw growth, with exports increasing to USD 1.41 billion, while imports surged to USD 9.91 billion. Additionally, Russia emerged as a key import source, especially for crude oil, witnessing a 17.7% growth in imports to USD 6.23 billion. The US, UAE, Australia, Tanzania, and Kenya were identified as India's top export destinations.
(With inputs from agencies.)
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