India Expands Export Market Target To 50 Countries To Cushion US Tariff Impact
The Commerce Ministry has expanded its export market focus from 20 to 50 countries in a bid to offset the potential impact of fresh US tariffs, sources told NDTV Profit on Monday.
The targeted markets span regions such as the Middle East and Africa, and together already account for 90% of India's total exports.
Officials said the ministry is working on a detailed product-by-product strategy under three key pillars, such as export diversification, import substitution, and boosting export competitiveness. The plan involves identifying priority products for each market, strengthening trade promotion efforts, and addressing logistical and regulatory bottlenecks.
According to sources, the move is aimed at reducing India's reliance on a few key export destinations, including the US, and building resilience against sudden trade disruptions. Work on the country-specific action plans is underway, with implementation expected to begin in the coming weeks.
The Rs 2,250-crore Export Promotion Mission is also expected to be launched soon, fulfilling a longstanding demand exporters have had. The Mission might see a renewed layout, and components like a credit guarantee scheme, interest subvention and other market access incentives.
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