India's exports continued to grow in November, defying concerns of a prolonged downturn due to US tariffs. Shipments to the US increased by more than 22% year-on-year, while overall exports rose by 19%, reaching a record $38.13 billion over the past decade. This rebound follows a breakdown in trade negotiations between the countries.
Trump imposed the world's highest tariffs of 50% on India in August in response to the country's purchases of Russian oil. Nevertheless, India has managed to boost its exports, strengthening its position in negotiations. Ajay Shrivastava, an analyst at the Global Trade Research Initiative, noted that New Delhi can now demand a reduction in tariffs from 50% to 25%, especially considering the reduced imports of Russian oil.
Indian Finance Minister Nirmala Sitharaman dismissed Trump's criticism of BRICS as a dying economy, pointing to the country’s GDP growth of 8.2% and raised forecasts from the Reserve Bank. These figures demonstrate that the pressure from sanctions has not crippled India's economic activity as it continues to be part of the BRICS group.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
-
Grand Choice
Contest by
InstaForexInstaForex always strives to help you
fulfill your biggest dreams.JOIN CONTEST -
Chancy DepositDeposit your account with $3,000 and get $1000 more!
In April we raffle $1000 within the Chancy Deposit campaign!
Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.JOIN CONTEST -
Trade Wise, Win DeviceTop up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.JOIN CONTEST

