India’s exports are adjusting post-tariff. Gems and jewellery to the U.S. dropped 76%, but overall exports were down only 1.5%, supported by growth in the UAE, Hong Kong and Belgium.
00:00Despite US President Trump's 50% tariffs, the Indian economy has shown resilience.
00:09Product categories such as shrimps, jewellery and auto components have found alternate buyers in Asian and European markets.
00:15According to the Commerce and Industry Ministry, while gems in jewellery exports to the US plummeted 76%,
00:21overall exports saw only a 1.5% dip, as shipments to the UAE jumped 79% to Hong Kong 11% and Belgium 8%.
00:29Auto components also found alternate markets in Germany and Thailand.
00:33But sports goods and cotton garments have not found alternative markets yet, as the products are facing huge competition from Vietnam and Bangladesh.
00:40According to reports, the Department of Commerce has asked exporters not to lower prices sharply as they scout for new markets.
00:46Tariffs meant to pressure India over Russian oil have only accelerated its hunt for new buyers.
00:51Meanwhile, President Trump had earlier indicated that tariff reductions were also on the table.
00:56I think we're pretty close to doing a deal that's good for everybody, right?
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