US President Trump's temporary reprieve on tariffs has allowed India to shift focus on diversifying its export markets. While negotiating a trade agreement with the US, India aims to reduce its reliance on American markets, which represent 18% of its total exports. Officials express urgency in finalizing trade agreements with other nations, notably the UK. Indian exporters, particularly in textiles and IT, are re-evaluating strategies, emphasizing innovation and adaptability in response to potential US policy shifts, aiming to remain competitive globally.
India is diversifying its export markets to reduce reliance on the US, which accounts for about 18% of its total exports.
Piyush Goyal stated, 'We do not negotiate at gunpoint.' He emphasized that timely restrictions aid negotiation but caution is vital.
Nirmala Sitharaman, during her visit to the UK, indicated that Trump's trade war has created urgency to conclude a trade deal.
Indian IT firms are adapting to tariff threats by investing in strategic partnerships and innovation to stay competitive in the global market.
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