Why India stands to gain from Trump's tariffs

"The decline in exports from India to the US could be in the range of 3-3.5 per cent post reciprocal tariffs, if any... which again should be negated through higher export goals across both manufacturing and services fronts, as India has diversified its exports kitty, pitched value addition, exploring alternate areas and works on new routes that transcend from Europe to USA via the Middle-East, redrawing new supply chain algorithms," says the report. 

India will also get advantage of aluminium and steel tariffs imposed by the US last week. India runs a marginal trade deficit with the USD 13 million in aluminium goods, and USD 406 million in steel goods. While India doesn't figure among top 10 importers of steel products, accounting for just 1 per cent of imports to the US, it is among the top 10 in aluminium imports. However, its share has dipped from 3 to 2.8 per cent between 2018 and 2024. -- ANI