Trump continued to shout tariff-tariff, while PM Modi played a big game, saying – ‘India is not dependent on anybody…’

Donald Trump doubled the tariffs imposed on India to 50%, the initial impact of which was felt across many sectors. However, these Trump tariffs, which were implemented from August 27, seem to be losing their effect now, they have not had any significant impact on the Indian economy, and exports are now showing good growth. There was a significant increase in Indian export figures in November, while there was a decline in imports. The good news is that despite the many side effects of Trump tariffs, India’s trade deficit narrowed last month. India’s trade deficit reduced. Despite the pressure of 50% tariff attack from the US, India has done very well. Trade deficit narrowed due to increase in exports in November. This reduction in trade deficit is due to the strong performance of the engineering goods, electronics and gems and jewelery sectors. According to PTI, India’s trade deficit narrowed to $24.53 billion in November from $31.93 billion a year ago. Government data released on Monday showed that India’s merchandise trade deficit narrowed faster in November compared to October. In October, pressured by tariffs, it was $41.68 billion. This reduction in trade deficit reflects business growth due to India’s strong exports and low imports. November covered the damage The US initially imposed a 25% reciprocal tariff on India, then doubled it to 50% after Donald Trump accused India of financially supporting Vladimir Putin by buying Russian oil and weapons in the Ukraine war. This had a significant negative impact on exports in September and October, but India’s strong strategy offset the impact of the tariffs. After the release of government data, Commerce Minister Rajesh Aggarwal said that exports in November made up for the losses incurred in October this year. Strong increase in exports, decline in imports According to the report, there was a strong increase of 19.37% in Indian exports in November, which reached $38.13 billion, while Indian imports decreased by 1.88% last month, falling to $62.66 billion. Rajesh Aggarwal described November as a good month for both India’s imports and exports. He said the services sector also remained strong, and India’s exports to the US alone increased by $1.3 billion to $6.98 billion in November from a year earlier. Despite high tariffs of 50%, India’s merchandise exports to the US remained stable. Looking at India’s export-import data for the April-November period, merchandise exports increased to $292.07 billion, while imports increased to $515.21 billion. During the period, exports to the US reached $59.04 billion, compared to $53.01 billion recorded in the same period a year ago. Trade with other trading partners Among other trading partners, India’s exports to the United Arab Emirates (UAE) stood at $25.49 billion, while imports stood at $40.81 billion. Imports from China increased to $84.27 billion, while imports from Russia decreased to $40.81 billion. The Narendra Modi government has taken several steps to protect the economy from external shocks such as US tariffs, including tax cuts, export incentives and labor reforms. These government measures help India deal with global trade challenges.

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