India to fight US tariffs by enhancing presence in fifty nations
(MENAFN) India is planning to expand its export footprint across 50 countries to reduce reliance on the U.S. market, local media reported Tuesday, citing government sources. The targeted nations account for roughly 90 percent of India’s total exports.
The strategy emphasizes engagement with new markets in the Middle East and Africa, with efforts tailored to specific products. Key goals include diversifying exports, promoting domestic substitutes for imports, and enhancing global competitiveness.
The move comes amid concerns over a slowdown in global demand and following the U.S. imposition of additional tariffs on Indian imports. Last week, the White House raised tariffs on Indian goods by 25 percent, bringing the total to 50 percent, citing India’s continued purchases of Russian oil.
The Middle East is viewed as a growth market for Indian engineering goods and jewelry, while Africa offers opportunities for pharmaceuticals, auto components, and agricultural products.
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