India-US Trade Dynamics: A Balancing Act Amid Tariffs

India's exports to the US increased by 16.93% in May. Imports fell by 5.76%. The US' tariffs on steel, aluminum, and auto parts have minimal impact, but exemptions could affect India. China also saw a substantial growth in imports and exports. Overall, diverse trends in India's global trade scenario are observed.

India's merchandise exports to the United States surged by 16.93% to reach USD 8.83 billion in May, while imports from the US declined by 5.76% to USD 3.62 billion, according to data from the Commerce Ministry.

For the April-May period, exports to the US rose by 21.78% to USD 17.25 billion, with a noted increase in imports by 25.8% to USD 8.87 billion. Special Secretary in the Department of Commerce, Rajesh Agrawal, commented that the US tariffs on steel, aluminum, and auto parts have had limited impact on these sectors in India.

The US imposed 25% tariffs on these products, creating potential challenges if prolonged. Meanwhile, India saw a 25% increase in exports to China in May, marking major adjustments ongoing in India's trading landscape with various countries.

(With inputs from agencies.)