India can diversify exports away from US if 100% tariffs imposed, has $200 bn market in 15 other countries: Economist SP Sharma
India could diversify exports if the US imposes steep tariffs linked to Russian crude purchases, economist SP Sharma said. He estimates a $200-billion opportunity across 15 alternative markets for products India currently exports to the US, including Europe and West Asia.
New Delhi: According to economist SP Sharma, India has ample opportunities to diversify its exports to other countries if the United States imposes 100% tariffs on nations importing Russian crude oil. Sharma believes there is a USD 200 billion market across 15 nations, where India can export goods currently sent to the US. Despite a USD 87.3 billion export value to the US in 2025-26, Sharma is confident that India's exports to other markets are growing at a faster pace of 20-25%, compared to the US at 10-15%.
The economist emphasized that India continues to maintain robust economic ties with the US and is engaged in discussions for a bilateral trade agreement. Sharma cautioned that imposing such high tariffs could harm both economies and American consumers due to increased prices. He argued that cooperation between the two countries is more beneficial than tariffs.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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