India Poised to Gain in US Market as Tariff War Intensifies

India's export sectors, including apparel and footwear, are set to benefit as the US imposes higher tariffs on several countries like Bangladesh and Thailand. These duties, effective from August, are expected to enhance the competitiveness of Indian products in the US market, particularly in apparel and leather segments.

India's export industries, notably apparel and footwear, are anticipated to gain a competitive advantage in the US market following Washington's recent tariff hikes on numerous countries, including Bangladesh and Thailand, economic experts suggest.

On Monday, the Trump administration imposed a range of tariffs from 25 to 40 percent on various nations. The new tariffs, effective from August 1, include 35 percent on Bangladesh and 36 percent on Cambodia and Thailand, signaling a shift in trade dynamics.

Bangladesh, a major US apparel exporter, faces significant duties that may boost India's market share. Exporters and industry leaders, like FIEO President SC Ralhan, foresee increased opportunities for Indian exports of leather, apparel, and rubber. With Thailand hit by similar tariffs, experts believe India will gain ground in these sectors.

(With inputs from agencies.)