look news india
Mumbai: When the new US President Donald Trump is increasing the pressure on the companies there to increase production in America by adopting a policy of protectionism in trade, it is seen that exports are increasing to America from India.
In the nine months before Trump took power in the period from April to December of the current financial year, exports from India to 6 per cent to $ 59.93 billion have increased from $ 59.93 billion. This increase has been observed in the US due to strong demand for Indian goods. While India’s imports from the US increased by 1.90 percent to $ 33.40 billion.
According to government data, exports increased by 8.50 percent to $ 7 billion in December, while imports increased by 9.90 percent to $ 3.77 billion.
If this trend continues, trade between the two countries will increase in the coming days, until a high tariff is imposed by Trump. In the event of more tariffs on Indian goods, the country’s exports to America may decrease. Local traders believe that if India also applies tariffs on American goods as retaliation, then it may be possible to reduce imports.
However, a possible trade war between the US and China can prove beneficial for India. The US has been a major trading partner of India since 2021-22. 18 per cent of India’s total exports are exported to the US, while the US holds 6 per cent stake in total imports.
India was imposing high tariffs on American goods and threatened to implement high tariffs on Indian goods before the election.
Meanwhile, in the April-December period, India’s finished steel imports from China increased to seven years high. In the period from April to December, the export of steel from China to India increased by 13.30 percent to 21 lakh tonnes on an annual basis.