India to gain in an uncertain world of tariffs, says SBI report
6 days, 20 hours ago

India to gain in an uncertain world of tariffs, says SBI report

The Hindu  

As tariff action by U.S. President Donald Trump looms large, the State Bank of India in a special report said that India however would stand to gain in an increasingly uncertain world of tariffs. Long trends indicate a possible downturn in U.S. economy GDP growth along with a slowdown in U.S. exports and consumption,” SBI said in the report. “We estimated the decline in exports in the range of 3-3.5% which again should be negated through higher export goals across both manufacturing and services fronts, as India has diversified its exports kitty, pitched value addition, exploring alternate areas and works on new routes that transcend from Europe to the USA via the Middle-East, redrawing new supply chain algorithms,” it said. Stating that India has signed 13 Free Trade Agreements in the last five years with its trading partners like Mauritius, UAE, Australia, SBI said these FTAs covering a wide array of topics, such as tariff reduction impacting the entire manufacturing and the agricultural sectors; rules on services trade; digital issues such as data localization; intellectual property rights would help.

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