US tariff tide likely to lift India's exports, reckons NITI Aayog

In 2024, India's bilateral trade (merchandise) with the US stood at $123.8 billion, with a trade surplus of $37.7 billion for India

India has a comparative edge over key competitors in a majority of products it exports to the US and stands to gain market share as the US raises tariffs on its major trade partners, NITI Aayog said on Monday.

 

In its quarterly trade report, it recommended that the government fast-track the India-US free trade agreement with time-bound goals to resolve non-tariff barriers and finalise digital trade rules on data flows and e-signatures to support services exports.

 

The Aayog’s assessment is based on the assumption that India will face an additional 10 per cent tariff, while several other countries — including