By Admin 
IIndian Exports Fall: The impact of the ongoing tariff dispute between India and America is now visible on the Indian export market. According to data released by the Global Trade Research Initiative (GTRI), India’s US exports have fallen by 37.5 percent between May and September. Talking about the data, this is one of the biggest export declines in the last few years.
Since the imposition of US tariffs, US exports have dropped to $5.5 billion. Which before this was 8.8 billion dollars. Let us tell you that America has imposed a huge tariff of 50 percent on India. Whose direct impact is visible on the exports from India. Due to increased prices, it is becoming difficult for Indian goods to find a place in the American market. Due to rising prices of Indian goods in the American market, its demand is decreasing.
Earthquake in gems-jewellery sector
Talking about gems and jewellery, a decline of 60 percent is being seen in this sector. Its market has come down to $202.8 million in the month of September. Whereas before the tariff, in May this figure was 500.2 million dollars. Due to this huge decline, this sector is incurring huge losses.
According to the GTRI report, countries like Thailand and Vietnam are benefiting from this loss. They are expanding their business in the American market.
What was the impact on tariff free goods?
America’s tariffs caused huge losses on the export of such goods. On which zero tariff was imposed. About one-third of American exports came from these goods. A decline of about 47 percent is being seen in these. Their exports have come down to 1.8 billion dollars in the month of September. Along with this, decline has also been recorded in smartphone exports, medicines, metals, auto, solar and green energy exports.
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