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India’s growth outlook strong, trade diversifies amid US tariff tensions, government says
The South Asian nation currently faces 50 percent punitive tariffs on its exports to the U.S., with half of those duties imposed in retaliation for its purchases of Russian oil.
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Reuters - Mon, 27, Oct 2025
- 10:20 EDT
- 17
Labourers rest on handcarts in a wholesale market in the old quarters of Delhi, India, August 29, 2025. / REUTERS/Bhawika Chhabra
India’s economic growth outlook for the current fiscal year remains strong, supported by robust domestic demand, easing inflation, and recent consumption tax cuts, the government said in its September economic report.
Prices are expected to stay soft in the financial year ending March 31, helped by a positive outlook for food production despite reduced acreage under oilseeds and cash crops and some weather-related crop losses, according to the report released on Oct. 27.
India’s trade performance for Sept. 2025 showed early signs of diversification in export destinations, even as trade deal negotiations with the United States continue.
The South Asian nation currently faces 50 percent punitive tariffs on its exports to the U.S., with half of those duties imposed in retaliation for its purchases of Russian oil.
According to the latest trade data, about 55 percent of Indian exports to the U.S. were affected by the tariff hikes.
India will not accept limits on its trading choices or rush into agreements, Trade Minister Piyush Goyal said on Oct. 24, while a senior government official noted that a bilateral trade deal with Washington was near.
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