India diversifies export mkt to counter US tariff hike
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New Delhi: India has succeeded in diversifying its export market with overseas shipments recording a year-on-year growth in over 20 countries across Europe, the Middle East, Africa and Latin America which has helped to offset the adverse impact of the US tariff turmoil.
This is reflected in the 9 per cent increase in India’s merchandise exports during the July-September quarter of the current financial year.
India's exports performance remains resilient despite the recent 50 per cent US tariff hike, with merchandise exports rising 6.7 per cent year-on-year in September, led by robust growth in high-value commodities such as electronics, engineering goods and marine products. The 24 countries which recorded a rise in Indian exports include Germany, Belgium, Italy, Poland, South Korea, the UAE, Oman, Iraq, Egypt, Russia, Canada, Mexico, Brazil, Kenya, Nigeria, Tanzania, Thailand, Vietnam and Sri Lanka.
