Will US tariffs prompt India to pivot to the GCC?
Indian businesses and exporters may steer a course towards GCC countries to circumvent steep US tariffs, according to analysts.
US President Donald Trump signed an executive order in August, imposing an additional 25% tariff on imports from India, in addition to other duties, fees, taxes, exactions, and applicable charges.
The White House cited India’s continued purchase of Russian oil, as the rationale for the move, calling it a counter to Russia’s threat to US national security and foreign policy. Russia accounts for about 34% of India’s crude imports.
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