Old alliances, new markets: Two-path formula for export growth, Pg9

Key Highlights:

• India's overall exports grew despite U.S. tariffs, with shipments to the U.S. rebounding.
• Exports of telecom instruments to the U.S. surged by 237%, masking declines in tariffed sectors.
• Exports of pearls and precious stones to the U.S. declined by 78.5%, and gold jewellery by 39%.
• Overall exports of marine products grew by 17%, despite a similar decline in shipments to the U.S.
• Marine exports to China grew by 23%, with significant inroads into European markets.

Detailed Insights:

• The surge in smartphone exports to the U.S. offset the decline in sectors affected by tariffs, explaining the rise in total exports to the U.S.
• Indian exporters diversified into other markets to counter the impact of U.S. tariffs, increasing overall exports in some sectors.
• The U.S. remained a dominant buyer of marine products in 2025, holding a market share exceeding 30%.
• India expanded its marine product exports across Europe, with shipments to Belgium, Netherlands, Germany, and Italy showing substantial gains.
• A weaker Rupee at 90 is seen as a positive factor for Indian exporters, aiding in the discovery of new markets.
• The Seafood Exporters Association of India (SEAI) has requested the Centre to intervene and establish Free Trade Agreements with other countries to support the aqua sector.

Key Concepts Involved:

• Tariffs: Taxes imposed on imported or exported goods.
• Free Trade Agreements: Pacts between countries to reduce barriers to trade.
• Export Diversification: Strategy to expand into new markets to reduce reliance on specific countries.