India Shifts Export Focus to Asia, Europe Amid US Tariffs

• India is diversifying its export markets towards Asia and select European countries to counter US tariff pressures.
• Exports to China, Hong Kong, Vietnam, Malaysia, Spain, France, and Germany saw significant growth in November and December, some exceeding 60%.
• The US imposed a 50% tariff on most Indian exports since mid-2025, leading to a 1.8% drop in shipments to the US in December.
• Engineering goods, a top export to the US, recorded 1.3% growth due to diversification, as stated by Pankaj Chadha, Chairman of EEPC India.
• Other key exports like marine products, ready-made garments, and chemicals also showed growth, while gems, jewellery, and leather products saw slight declines.

Why It Matters: India is successfully diversifying its export markets to Asia and Europe to mitigate the impact of US tariffs.