Christmas cheer, but caution remains: Exporters welcome US tariff relief, keep diversification plans
US President Donald Trump’s decision to waive proposed tariffs of up to 100% on buyers of Russian oil has eased uncertainty for Indian exporters ahead of the crucial Christmas shipping season. However, businesses across textiles, gems and jewellery, and human hair products say they will continue diversifying export markets after last year’s tariff turmoil, even as the US remains a key destination…
US President Donald Trump's decision to waive sanctions on major buyers of Russian oil has provided some relief to Indian exporters facing the pre-Christmas shipping season. While the waiver eliminates tariff uncertainties for the festive season, Indian exporters are still actively diversifying their markets, reducing their dependence on the US.
The US remains the largest market for Indian exporters, but their exposure has decreased from 85% to 40% over the past 15 months. Other key destinations include the UK, European Union, Australia, Canada, and the UK. Despite the diversification efforts, Christmas-related exports are expected to continue until December 15, with consumer demand for jewelry remaining resilient.
Brief written by urgent.news from The Economic Times - Economy's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
