'$200 bn market in 15 countries': Here's what India can do if US slaps 100% tariffs
Economist SP Sharma suggests that India can mitigate the impact of potential 100% US tariffs on Russian crude-related exports by diversifying into 15 alternative markets. He notes that while the US is a major partner, other global markets offer a combined $200 billion opportunity for Indian goods.
Why it matters
This highlights India's strategic economic pivot to reduce dependency on US trade policy volatility and maintain export growth.
The US is planning to slap a 100% tariff on Russian crude customers, and concerns are rising over India’s next move.The Trump administration's green signal for imposing the hefty duty on countries buying Russian crude has raised concerns over India’s exports. However, economist SP Sharma said that Indian exporters have 15 alternative markets for the same products, with a potential $200 billion market waiting beyond the US.Speaking to ANI, Sharma said India has scope to diversify its exports and is not excessively dependent on the US market, despite the strong trade and economic relationship between the two countries."We have another 15 markets where we can export our same products which we are exporting to the US.
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