Mumbai - The recent 27 percent tariff hike imposed by US President Donald Trump on Indian goods is expected to have only a “limited” impact on India’s economy, as exports to the US account for just 4 percent of the country’s GDP, according to an SBI Research report.
Despite the tariff increase, India has a relative advantage over its Asian counterparts, as the levies imposed on Indian goods are lower compared to China (34 percent), Thailand (36 percent), Indonesia (32 percent) and Vietnam (46 percent). This lower tariff burden is expected to enhance India’s competitiveness . . .
Disclaimer: This information has been collected through secondary research and Daily Shipping Times is not responsible for any errors in the same.
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