​High base effect: On a shrinking trade deficit, rising exports
Trending News
4 days, 4 hours ago

​High base effect: On a shrinking trade deficit, rising exports

The Hindu  

India’s goods trade in February saw its steepest decline in nearly two years. While a shrinking trade deficit driven by rising exports would have been a positive development, the simultaneous decline in exports and imports is a cause for concern. The looming threat of reciprocal tariffs has unsettled Indian exporters, as the U.S. is India’s second-largest trading partner, accounting for $118.3 billion in trade last fiscal year. If Washington moves to neutralise its trade deficit with New Delhi, India could face a 15% widening in its overall trade deficit, based on last fiscal year’s $241 billion shortfall. While imports from China have contributed to about a third of India’s trade deficit for over five years, India’s trade imbalance with the U.K. accounted for less than 3% of its total deficit last fiscal year.

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History of this topic

Tariff-proofing India’s exports
2 days, 15 hours ago

Tariff-proofing India’s exports

Hindustan Times  

The tariff turmoil from the United States is emerging as the biggest ‘known unknown’ for the global economy in 2025. Indian economy For some time now, the relative stability of the World Trade Organization -refereed trade regime has cultivated a wide-spread complacency with global trade ballooning nearly five times since the creation of WTO. The long entrenchment in stable global …

India’s exports may face 3-3.5% hit from US tariffs, but trade diversification may cushion impact: SBI Research
Trending News
5 days, 7 hours ago

India’s exports may face 3-3.5% hit from US tariffs, but trade diversification may cushion impact: SBI Research

Live Mint  

New Delhi: India’s exports to the US could decline by 3-3.5% if Washington implements reciprocal tariffs next month, but this may be offset by ambitious targets in manufacturing and services, along with efforts to diversify exports, SBI Research said in a report on Monday. New Delhi also must boost value addition, tap new markets, and establish alternative trade routes from …

Trump’s tariff threat’s impact on India’s agriculture trade
Trending News
5 days, 9 hours ago

Trump’s tariff threat’s impact on India’s agriculture trade

Hindustan Times  

The recent proposal by United States President Donald Trump to impose reciprocal tariffs is aimed at addressing the increasing US trade deficit and aligns with the broader America First policy. India imposes significantly higher tariffs than the US, particularly in agriculture where it imposes a simple average tariff of 39% and a trade-weighted tariff of 65%, compared to the US’s …

'India-US Trade Deal Aims To Reduce Tariffs, Increase Market Access': MEA After Trump’s Remarks
2 weeks, 1 day ago

'India-US Trade Deal Aims To Reduce Tariffs, Increase Market Access': MEA After Trump’s Remarks

ABP News  

The Ministry of External Affairs on Friday said the proposed India-US trade agreement seeks to lower tariff and non-tariff barriers, expand market access, and strengthen supply chain integration. Responding to a question regarding the Trump administration’s remarks on retaliatory tariffs against India, Jaiswal also highlighted Union Commerce Minister Piyush Goyal’s recent visit to the US as part of ongoing efforts …

China’s exports and imports weaken in Jan-Feb as demand slides amid global trade uncertainty
2 weeks, 1 day ago

China’s exports and imports weaken in Jan-Feb as demand slides amid global trade uncertainty

Associated Press  

HONG KONG — China’s exports rose a less-than-expected 2.3% in January and February from a year earlier while imports fell more than 8% in a slow start to a year dogged by uncertainty over U.S. tariffs and other policies. China’s customs agency typically publishes combined trade data for January and February to avoid any distortion from slowdowns during the week-long …

India is very high tariff nation: U.S. President Donald Trump
2 weeks, 1 day ago

India is very high tariff nation: U.S. President Donald Trump

The Hindu  

India is a very high tariff nation, U.S. President Donald Trump has said as he reiterated that reciprocal tariffs on countries that impose levies on American goods will kick in on April 2. “And the big one will be on April 2, when reciprocal tariffs, so if India or China, or any of the countries that really…India is a very …

Prepare to hit the US with tariffs where it hurts, says expert body advising the government
2 weeks, 1 day ago

Prepare to hit the US with tariffs where it hurts, says expert body advising the government

Live Mint  

New Delhi: A group of trade experts advising the government on its trade negotiations with the Donald Trump administration has recommended that India prepare to levy tit-for-tat tariffs on American goods that enjoy significant market access in India and that contribute to a sizeable US trade surplus in these product categories. In addition, mineral fuels, slag, and ash from the …

India-U.S. trade: Small exporters seek import duty cuts to counter U.S. steel, aluminium tariffs
2 weeks, 2 days ago

India-U.S. trade: Small exporters seek import duty cuts to counter U.S. steel, aluminium tariffs

The Hindu  

India's small engineering goods exporters have urged the government to cut import tariffs on some U.S. goods to try and achieve more favourable trade terms as President Donald Trump prepares to implement new steel and aluminium duties, the head of an industry body said. "Of India's $20 billion annual engineering goods exports, nearly $7.5 billion worth of shipments could be …

Fact check: Trump wildly exaggerates trade deficits with Canada, Mexico, China and the EU
2 weeks, 2 days ago

Fact check: Trump wildly exaggerates trade deficits with Canada, Mexico, China and the EU

CNN  

Washington CNN — President Donald Trump has for years wildly exaggerated the size of US trade deficits with various other countries. Previously released federal figures for 2023 and part of 2024 had already shown that Trump’s claims about the US deficits with Canada, Mexico, China, and the European Union were way off. The new federal figures show the 2024 deficit …

Trump sets April 2 for reciprocal tariff, Goyal in US for new trade deal – Firstpost
2 weeks, 3 days ago

Trump sets April 2 for reciprocal tariff, Goyal in US for new trade deal – Firstpost

Firstpost  

With weeks until Trump’s proposed retaliatory tariffs, commerce minister Piyush Goyal embarked on a trip to the United States on Monday to conduct trade negotiations with his US counterpart Howard Lutnick US President Donald Trump criticised the high tariffs charged by India and other countries, terming them as “very unfair” and announced reciprocal tariffs from April 2 on nations that …

India's exports under pressure as US and EU tighten trade policies
2 weeks, 4 days ago

India's exports under pressure as US and EU tighten trade policies

India Today  

India’s exports are facing heightened challenges owing to aggressive trade policies from partners like the US and the European Union, said a senior trade ministry official on Tuesday, reported Reuters. Santosh Sarangi, head of the Directorate General of Foreign Trade, pointed to the increased import tariffs by the US and policies like the CHIPS Act, which support local manufacturing. He …

India must keep its strategic options open as Trump’s tariffs kick in
2 weeks, 5 days ago

India must keep its strategic options open as Trump’s tariffs kick in

Live Mint  

The recent wave of tariff announcements by the Trump administration in the US marks a significant shift in global trade dynamics. Substantial corporate-tax cuts and broad deregulation, both of which are on Trump’s agenda, could potentially stimulate US economic growth, though these benefits may take longer to materialize compared to the more immediate negative effects of tariffs on consumption and …

US-China trade war 2.0: How does it impact India?
2 weeks, 5 days ago

US-China trade war 2.0: How does it impact India?

Live Mint  

It’s Happening Again It’s 2025, and we are back to hearing about tariffs, trade wars, and stock markets crashing. This could happen again if China shifts its buying patterns away from the U.S. What Happened to India’s Economy Last Time? Currency markets were unstable, oil prices fluctuated wildly, and investors preferred moving their money to safer markets like the U.S., …

Sanjeev Ahluwalia | Trump’s DOGE and hidden costs of ‘reciprocal tariffs’
3 weeks, 2 days ago

Sanjeev Ahluwalia | Trump’s DOGE and hidden costs of ‘reciprocal tariffs’

Deccan Chronicle  

It is a measure of the randomness of the policy changes in the United States that the left hand no longer knows what the right is doing, or more appropriately, neither of its two right hands know what the other is up to. The problem is that even as Mr Musk sculpts the US government to shed generational lard, the …

Declining exports to Asian peers sees export-GDP ratio fall 5 per cent in 10 yrs
1 month ago

Declining exports to Asian peers sees export-GDP ratio fall 5 per cent in 10 yrs

Deccan Chronicle  

Chennai: India’s export-GDP ratio has declined from 17.16 per cent to 12.37 per cent in the past ten years mainly due to the weakening shipments to its Asian peers, including China. Saudi Arabian exports remain at $11 billion in these 10 years and shipments to Iran have dropped from $4.1 billion in FY15 to $1.2 billion in FY24. US exports …

Donald Trump’s Reciprocal Tariffs: How will it alter India-US trade basket? Decoding the impact
Trending News
1 month ago

Donald Trump’s Reciprocal Tariffs: How will it alter India-US trade basket? Decoding the impact

Live Mint  

Trade relations between the US and India are in focus after US President Donald Trump plans to impose reciprocal tariffs on trading partners. Goods exported from India to US Amount Engineering goods $3.07 billion Electronic goods $ 2.11 billion Gems and Jewellery $ 1.83 billion Drugs and Pharmaceuticals $ 1.68 billion RMG cotton including accessories $ 862 million What India …

India’s goods trade deficit widened to $22.99 billion in January—a two-month high
1 month ago

India’s goods trade deficit widened to $22.99 billion in January—a two-month high

Live Mint  

New Delhi: India’s merchandise trade deficit rose to a two-month high of $22.99 billion in January on the back of higher imports. Merchandise exports declined to $36.43 billion in January by value from $38.01 billion in the previous month, and from $37.32 billion a year earlier, data released by the commerce ministry on Monday showed. The cumulative value of merchandise …

India’s exports surge to $74.97 bn in Jan 2025 from $68.33 bn, trade deficit rises to $2.67 bn
1 month ago

India’s exports surge to $74.97 bn in Jan 2025 from $68.33 bn, trade deficit rises to $2.67 bn

Live Mint  

New Delhi, : India's overall exports, comprising both merchandise and services, rose to USD 74.97 billion in January 2025, marking an increase from USD 68.33 billion in January 2024, according to data released by the Commerce Ministry. However, the country's trade deficit too widened to USD 2.67 billion from USD 0.39 bn as imports surged to USD 77.64 billion, compared …

January trade deficit widens to $23 bn as exports dip by 2.38% on year
1 month ago

January trade deficit widens to $23 bn as exports dip by 2.38% on year

The Hindu  

India’s trade deficit widened to $22.99 billion in January 2025, up from $16.56 billion in the same month last year, as goods exports dipped 2.38% year on year to $36.43 billion, the third consecutive month of fall, as per government data. Imports increased by 10.28% to $59.42 billion in January 2025 with a rise in inbound shipments of electronic goods, …

US tariffs likely to have minimal impact on Indian exports, says SBI report
1 month ago

US tariffs likely to have minimal impact on Indian exports, says SBI report

Hindustan Times  

The Impact of US tariffs on Indian exports may be minimal, according to an article by news agency ANI which cited a report by State Bank of India. US President Donald Trump speaks in the Oval Office of the White House in Washington, DC The report estimates India's exports to decline only by around 3-3.5% even if the US imposes …

PM Modi's US visit: How India is eyeing long-term benefit under Trump 2.0
1 month, 1 week ago

PM Modi's US visit: How India is eyeing long-term benefit under Trump 2.0

Firstpost  

PM Modi hopes to find a way through Donald Trump’s often unpredictable approach by offering carefully considered concessions in areas like trade, defence, and energy, all while setting the stage for India’s long-term benefit Trump 2.0's firm position on trade and deportation certainly poses challenges for India, but both countries understand the strategic linkages of this relationship. Geopolitical Factors: Managing …

India’s trade deficit likely to come down by over USD 1 billion from USD 21.94 billion in December
1 month, 1 week ago

India’s trade deficit likely to come down by over USD 1 billion from USD 21.94 billion in December

Op India  

India’s merchandise trade deficit is expected to have narrowed to USD 20.88 billion in January 2025, down from USD 21.94 billion in December 2024, according to a report by Union Bank of India. The report noted that India imported 1.67 million barrels per day of crude oil from Russia in January, marking a 13 per cent increase from December. Saudi …

A Look At India-US Trade Dynamics Ahead Of PM Modi's High-Stakes Visit To Washington
1 month, 1 week ago

A Look At India-US Trade Dynamics Ahead Of PM Modi's High-Stakes Visit To Washington

ABP News  

Prime Minister Narendra Modi will start his two-day working visit to the US on Wednesday, during which he will hold a bilateral meeting with President Donald Trump, their first since the latter returned to power. US-India Trade Partnership As per a CNN report, the US is India’s largest trading partner, with nearly $120 billion in trade, while India ranks 10th …

How will India navigate trade in the Trump 2.0 era?
1 month, 1 week ago

How will India navigate trade in the Trump 2.0 era?

India Today  

Many countries welcomed Donald Trump's return to the White House but are now bracing for economic turbulence. With billions at stake, Prime Minister Narendra Modi is heading to Washington to keep India's exports flowing and to prevent a trade war. While India has made concessions—lowering tariffs on some items in its recent budget—Trump's administration remains focused on levelling tariff rates. …

The India-US trade relationship explained in 4 charts
1 month, 1 week ago

The India-US trade relationship explained in 4 charts

CNN  

CNN — US trade policies are under the microscope after President Donald Trump enacted tariffs on top trading partner China and teased more, broader tariffs in the coming days. While India has been spared any tariffs from the new Trump administration so far, Trump said recently that reciprocal tariffs will be announced on any countries with tariffs on US goods, …

Ajit Ranade: Trump’s policies offer India a pretext to reset import tariffs
1 month, 1 week ago

Ajit Ranade: Trump’s policies offer India a pretext to reset import tariffs

Live Mint  

Let’s take stock of India’s external environment. The president has proclaimed that he wants a weaker dollar to support American exports and jobs, and there is speculation whether he will force America’s trade partners into a Plaza Accord kind of deal that forces them to collectively strengthen their currencies. Trump has also threatened to slap Brics nations with 100% import …

What it means to have a high trade deficit — and why it's not always a bad thing
1 month, 1 week ago

What it means to have a high trade deficit — and why it's not always a bad thing

NPR  

What it means to have a high trade deficit — and why it's not always a bad thing AYESHA RASCOE, HOST: Both tensions and relations between the U.S. and its two neighbors - Canada and Mexico - are a bit cooler at the moment, largely due to trade. RASCOE: President Trump often says that countries like Canada and Mexico are …

US trade deficit swells to $918.4 bn in 2024: What will be Trump's next move?
1 month, 2 weeks ago

US trade deficit swells to $918.4 bn in 2024: What will be Trump's next move?

Firstpost  

The high figures could attract renewed scrutiny under the new US administration, with Trump already threatening tariffs on major US partners over trade imbalances and other issues US President Donald Trump signs executive orders in the Oval Office at the White House in Washington, US. File image/ Reuters The US trade gap swelled last year to its second-largest on record, …

US trade deficit swells to $918.4 bn in 2024: What will be Trump's next move?
1 month, 2 weeks ago

US trade deficit swells to $918.4 bn in 2024: What will be Trump's next move?

Firstpost  

The high figures could attract renewed scrutiny under the new US administration, with Trump already threatening tariffs on major US partners over trade imbalances and other issues US President Donald Trump signs executive orders in the Oval Office at the White House in Washington, US. File image/ Reuters The US trade gap swelled last year to its second-largest on record, …

U.S. trade gap swells as Trump renews scrutiny of deficits
Top News
1 month, 2 weeks ago

U.S. trade gap swells as Trump renews scrutiny of deficits

Raw Story  

by Beiyi SEOW The U.S. trade gap swelled last year to its second-largest on record, government data showed Wednesday, as deficits come under the spotlight with President Donald Trump's return to the White House. The high figures could attract renewed scrutiny under the new U.S. administration, with Trump already threatening tariffs on major US partners over trade imbalances and other …

US trade deficit widens nearly 25% in December ahead of Donald Trump term
1 month, 2 weeks ago

US trade deficit widens nearly 25% in December ahead of Donald Trump term

Live Mint  

- The US trade deficit widened sharply at the end of 2024 on a surge in imports prior to the start of Donald Trump’s second term as president and his follow-through on the promise of sweeping tariffs. The end-of-year flurry of imports was broad and included a surge in inbound shipments of industrial products that likely reflected efforts by US …

India eyes opportunities as US tariffs target China, Canada and Mexico
1 month, 2 weeks ago

India eyes opportunities as US tariffs target China, Canada and Mexico

Firstpost  

The tariffs would affect exports from China, Canada, and Mexico to the US as they would push prices of their goods in the American market, making them less competitive The imposition of customs duties by the US on imports from China, Canada, and Mexico provides huge export opportunities for India to America, exporters say. The tariffs would affect exports from …

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge
1 month, 2 weeks ago

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge

Firstpost  

According to data from the commerce ministry, the total export value in sectors such as textiles, electronics, engineering goods and pharmaceutical products to the US increased from $38.84 billion in FY22 to $46.43 billion in FY24. As the world’s fifth-largest economy, India is focused on avoiding tariff increases, particularly on key export categories such as textiles, electronics, engineering goods and …

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge
1 month, 2 weeks ago

As India waits and watches, a plan is in the making to counter Trump’s tariff challenge

Firstpost  

According to data from the commerce ministry, the total export value in sectors such as textiles, electronics, engineering goods and pharmaceutical products to the US increased from $38.84 billion in FY22 to $46.43 billion in FY24. As the world’s fifth-largest economy, India is focused on avoiding tariff increases, particularly on key export categories such as textiles, electronics, engineering goods and …

Trump's tariff war: How India might avert damage
1 month, 2 weeks ago

Trump's tariff war: How India might avert damage

Live Mint  

New Delhi: India is preparing an action plan to steer clear of a potential trade war with the US, two people aware of the matter said. As the world’s fifth-largest economy, India is keen to avoid tariff hikes particularly on exports of garments, electronic goods, engineering products, and drugs and pharmaceuticals, among others, the two people said. Notably, India eliminated …

Donald Trump excludes India in new tariffs, imposes on China, Mexico and Canada
1 month, 2 weeks ago

Donald Trump excludes India in new tariffs, imposes on China, Mexico and Canada

Hindustan Times  

US President Donald Trump did not name India in the first set of tariffs announced on Friday, which included 25 percent tariffs on Mexico and Canada, and 10 percent on China, citing a “high trade deficit,” The Indian Express reported. China, Mexico, and Canada are the top contributors of US trade deficit, with China at 30.2 per cent, Mexico at …

Budget 2025: New export promotion mission aims to boost growth and narrow trade deficit
1 month, 3 weeks ago

Budget 2025: New export promotion mission aims to boost growth and narrow trade deficit

Live Mint  

Finance minister Nirmala Sitharaman on Saturday, 1 February, unveiled an Export Promotion Mission, spearheaded by the ministries of commerce, finance, and micro, small, and medium enterprises, to position exports as a key driver of economic growth. Part of the budget announcements for 2025-26, the initiative aims to narrow India’s trade deficit, which hit a record $32.8 billion in November 2024. …

India's exports to U.S. up 5.57% to $60 bn in April-December FY25
1 month, 3 weeks ago

India's exports to U.S. up 5.57% to $60 bn in April-December FY25

The Hindu  

India’s exports rose by 5.57% to $59.93 billion during April-December this fiscal on account of healthy demand in the American market for domestic goods, according to government data. The U.S. accounts for about 18% of India's total goods exports and over 6% in imports and about 11 per cent in bilateral trade. Some experts raised concerns that if the U.S. …

Japan’s exports hit record high, but trade deficit continues
Trending News
1 month, 3 weeks ago

Japan’s exports hit record high, but trade deficit continues

Associated Press  

TOKYO — Japan saw record-high exports last year, as its annual trade deficit declined 44% from the previous year, the Finance Ministry reported Thursday. The trade deficit, which measures the value of exports minus imports, totaled 5.3 trillion yen, according to government data, as imports ballooned on the back of rising energy costs and growing inflation around the world. Exports …

Mint Quick Edit | India should shun trade policy inflexibility
2 months ago

Mint Quick Edit | India should shun trade policy inflexibility

Live Mint  

India imports goods worth more than it exports, but the gap has narrowed, according to official data. The country logged a trade deficit of under $22 billion in December, down from $32.8 billion the previous month, as outward shipments of merchandise rose while inward fell. The November numbers that were first released by the Centre had shown eyebrow-raising imports, but …

India's Worrying Economic Dependence On China
2 months ago

India's Worrying Economic Dependence On China

India Today  

India's trade deficit with China hit $85.1 billion in fiscal year 2024, underscoring growing economic concerns. This widening gap highlights India's deep reliance on Chinese goods across critical sectors like electronics, telecom, solar energy, and electric vehicles. Expanding PLI schemes to additional sectors and negotiating favorable trade agreements, particularly with countries like the UK, could bolster Indias manufacturing capabilities and …

India's Trade Deficit Narrows in December to $21.94 Billion
Trending News
2 months, 1 week ago

India's Trade Deficit Narrows in December to $21.94 Billion

Deccan Chronicle  

Chennai: India’s trade deficit narrowed in December to $21.94 billion compared to the revised November trade deficit of $32.84 billion. However, 1 per cent drop in exports and 4.9 per cent growth in imports saw trade deficit widening from year ago levels. India’s merchandise exports contracted 1 per cent to $38.01 billion in December against $38.39 billion a year ago. …

India’s trade deficit declines to $21.94 bn in December
2 months, 1 week ago

India’s trade deficit declines to $21.94 bn in December

Live Mint  

New Delhi: India’s merchandise trade deficit fell to a three-month low of $21.94 billion in December on the back of higher exports, data released by the commerce ministry on Wednesday showed. the merchandise trade deficit stood at $18.76 billion in the year-ago period. During December, merchandise exports stood at $38.01 billion, while imports stood at $59.95 billion, the data showed, …

India, Asean to gain as looming US tariffs shake up global trade: BCG
2 months, 1 week ago

India, Asean to gain as looming US tariffs shake up global trade: BCG

Live Mint  

New Delhi: India and Asean bloc stand to gain as looming tariffs under the second Donald Trump administration in the US and geopolitical tension reshape global trade flows over the next decade, according to a Boston Consulting Group report. India’s economic growth, combined with favourable policies aimed at boosting its manufacturing capabilities, positions it as a key player in the …

Government revises November gold import figures from $14.8 billion to $9.9 billion
2 months, 1 week ago

Government revises November gold import figures from $14.8 billion to $9.9 billion

New Indian Express  

NEW DELHI: The sharp jump in November merchandise trade deficit was because of a clerical error. The Directorate General of Commercial Intelligence and Statistics on Wednesday revised India’s gold import figure for November 2024 from $14.8 billion to $9.9 billion—a decline of 33%. The November goods trade deficit rose to an all-time high of $37.8 billion due a massive year-on-year …

Gold googly bamboozles import data
2 months, 2 weeks ago

Gold googly bamboozles import data

The Hindu  

In what may constitute the steepest revision in India’s trade data in recent times, the Centre has revised India’s import bill for November 2024 by almost six billion dollars to $63.86 billion from the record tally of $70 billion reported as quick estimates by the Commerce Ministry last month, led by a sharp $5 billion downward revision in gold imports. …

$5 billion shock! India makes largest-ever revision to gold import estimates for November
Trending News
2 months, 2 weeks ago

$5 billion shock! India makes largest-ever revision to gold import estimates for November

Live Mint  

India has slashed its November gold import estimates by an unprecedented $5 billion, the largest revision for any commodity in history, after errors in preliminary calculations inflated the figure to a record, government data showed on Wednesday. New Delhi reported last month that its gold imports urged to a record high of $14.8 billion in November, more than doubling from …

How China, India will navigate Trump’s bid for ‘tariffs, and tariffs alone’
2 months, 2 weeks ago

How China, India will navigate Trump’s bid for ‘tariffs, and tariffs alone’

Live Mint  

As Donald Trump returns as the US President on 20 January, the world will closely watch his trade policies. During his first term, Trump initiated a trade war with China in 2018, imposing tariffs on $250 billion worth of Chinese goods, including steel, aluminium, solar panels and washing machines. China's trade surplus stood at $785 billion for the first 10 …

India's current account deficit expected at 1.1% of GDP in FY25, says ICICI bank
2 months, 3 weeks ago

India's current account deficit expected at 1.1% of GDP in FY25, says ICICI bank

Hindustan Times  

India's Current Account Deficit is expected to remain at 1.1 per cent of the Gross Domestic Product in the financial year 2024-25, according to a report by ICICI Bank. In the fiscal year 2024–2025, India's Current Account Deficit is anticipated to stay at 1.1% of GDP, citing to ICICI Bank analysis The report highlighted significant changes in the country's external …

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