Analysing India’s trade bottlenecks
India faces significant trade challenges, including potential U.S. tariffs and a growing trade deficit with China. Despite efforts to diversify, India remains heavily dependent on Chinese imports for critical sectors like pharmaceuticals and manufacturing.
On July 15, the India-U.K. trade deal came into force. That day, India banned the import of goods made using forced labour so as not to get an unfavourable treatment from the U.S. under Section 301. A day later came the news that a bipartisan Bill has been proposed by U.S. Senators to levy up to 100% tariff on India and others for buying Russian crude. One way or the other, India’s trade with the U.S. is being buffeted by bottlenecks.
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