To reduce its reliance on the US market, India has been expanding its trade diplomacy. After the Gulf Cooperation Council bloc-wide deal stalled, India signed a CEPA with the UAE.
UAE’s Ambassador to India Ahmed Albanna says new grouping that first met in Oct 2021 is ‘an offspring of Abraham Accord’, critical to combat threats to economic growth & stability.
After dominating India’s crude imports since 2023, Russian supplies slowed amid US sanctions, but a 30-day ‘waiver’ amid West Asia tensions could now push flows back towards 2 mbpd.
Trump has ushered in the age of humiliation. His method is to push around America’s friends rudely and publicly. He knows none of them can afford to fight back.
It would have been nicer if the author had also talked of India’s textile and apparel sector, which is among those hit hardest by the 50% tariff imposed by the United States on Indian goods, effective August 27. The US is the single-largest market for India’s textile and apparel items, with around 28% of these Indian goods being sold in the world’s No. 1 economy. India’s textile and apparel exports to the US in the financial year 2024-25 stood at nearly $11 billion.
It would have been nicer if the author had also talked of India’s textile and apparel sector, which is among those hit hardest by the 50% tariff imposed by the United States on Indian goods, effective August 27. The US is the single-largest market for India’s textile and apparel items, with around 28% of these Indian goods being sold in the world’s No. 1 economy. India’s textile and apparel exports to the US in the financial year 2024-25 stood at nearly $11 billion.