India speeds up trade deals after US slaps big tariffs
After the US hit Indian goods with a steep 50% import tariff in August, India is hustling to sign more free trade agreements (FTAs) with other countries.
The latest? A new deal with Oman, aiming to boost exports of things like engineering products, textiles, medicines, and farm goods—basically giving Indian businesses more places to sell.
Why should you care?
With the US market getting tougher, India's FTA push is aimed at finding new buyers for its products and protecting jobs in sectors like textiles and auto parts, among other strategic goals such as broader economic integration and supply chain participation.
Right now, India already has 15 FTAs covering 26 countries and 6 PTAs with another 26 nations, and is negotiating with over 50 more.
These deals help make trade smoother and open up fresh opportunities for Indian companies—so if you're thinking global business or just care about the economy bouncing back from shocks like this, it's worth paying attention.