Trade diversifies
India’s trade performance for September 2025 showed early signs of diversification in export destinations, even as trade deal negotiations with the United States continue.
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The South Asian nation currently faces 50% punitive tariffs on its exports to the U.S., with half of those duties imposed in retaliation for its purchases of Russian oil.
According to the latest trade data, about 55% of Indian exports to the U.S. were affected by the tariff hikes.
India will not accept limits on its trading choices or rush into agreements, Trade Minister Piyush Goyal said on Friday, while a senior government official noted that a bilateral trade deal with Washington was near