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Hans India
10 hours ago
- Business
- Hans India
India's exports of pharmaceuticals, textiles, jewellery to US likely to go up after bilateral trade pact
New Delhi: Although the US is India's largest export partner, there is scope to increase exports further in areas such as smartphones, certain pharma products and labour-intensive exports such as textiles and gems and jewellery under the bilateral trade agreement (BTA) between the two countries that is expected to be signed by the fall (September-October) of this year, according to a Crisil report released on Monday. To begin with, India should be prepared to see more imports from the US under the BTA. This is because India's tariffs are much higher than those of the US, and bringing these down would be advantageous to exporters in the US, the report points out. It highlights that the imminent bilateral trade agreement will likely lead to a reduction in India's goods trade surplus with the US. India would be able to import more energy products, defence equipment and certain agricultural products, among others, from the US after the agreement is signed. The report further states that India accounts for only a small part of the USA's imports. India's exports, however, are unlikely to see a major spike because the focus of the Donald Trump administration is to reduce its trade deficit with India, and most of India's top exports to the US are already duty-free (i.e. before the application of baseline 10 per cent, which is applicable since April 10). Besides, the export potential would also depend eventually on the amount of tariff India faces when compared with other competing nations, it added. According to the report, there is some potential to improve. The US is not only the world's largest economy, but also the world's largest importer. In 2024, its goods imports stood at $3.36 trillion (in contrast, China and Germany, the second- and third-largest importing nations, recorded $2.59 trillion and $1.43 trillion worth of goods imports, respectively), according to ITC Trade Map. But India's share in the US's global imports was just 2.7 per cent. Thus, there is some scope for India to increase its exports to the US. The report said that "to understand the areas where India can potentially increase exports to the US, we assess the following two matrices". "Among the top 25 items India exports to the US, products such as diamonds, marine products and bed linen already have a high penetration there. The penetration remains low for others, such as smartphones and certain pharma products. Also, only two of India's top 25 export items faced the most favoured nation (MFN) tariff in 2024; others were duty-free. Clearly, this means Indian goods will have to become more competitive to gain further market share. Though a vast majority of India's exports to the US are duty-free, several products attract MFN tariffs. For instance, out of the US's goods imports of $91.2 billion from India in 2024, $32.9 billion worth of goods (36 per cent) attracted tariffs. The US announced reciprocal tariffs on India and a host of other nations on April 2, 2025, and then paused the increase for 90 days from April 10 to negotiate trade deals with these countries (for India, the reciprocal tariff was 26 per cent, lower than the tariff on many other Asian peers). During the pause period, a 10 per cent base tariff remains applicable (over and above the existing tariffs) on all countries, including India.
The Star
08-05-2025
- Business
- The Star
INTERACTIVE: What you need to know about Asean's exports to the US, in 5 charts
North Butterworth Container Terminal (NBCT), Malaysia — CHAN BOON KAI/The Star PETALING JAYA: Countries from around the world are seeking to negotiate a deal with Washington within the 90-day pause of higher tariffs announced by the United States, and South-East Asia is no exception. The 90-day pause, which started on April 9, is scheduled to end in early July. Asean is negotiating tariffs imposed by the United States with a mix of individual country efforts and a focus on regional coordination. To find out how much Asean collectively exports to the United States and identify its top exports, The Star pored over figures from various sources. They include the International Trade Centre's (ITC) Trade Map, the Office of the US Trade Representative (USTR), US Census Bureau and media reports. Some figures vary by source, but they all indicate that the United States heavily relies on imports from South-East Asia for a wide variety of goods ranging from electrical machinery to furniture. Below are five charts explaining Asean's trade with the United States. Asean's 10-member countries exported a combined total of US$358.56bil worth of goods to the United States last year, according to the ITC Trade Map. The 27 country European Union was first, followed by Mexico, China, and Canada. The ITC Trade Map's figures show that exports from Asean made up 10.67% of the total US$3.36tril worth of goods which the United States imports. The USTR website meanwhile cites a lower figure for Asean's exports to the United States, which it said stood at US$352.3bil last year. It said that goods imports from Asean to the United States went up by 13.3% last year compared to 2023. Vietnam was Asean's largest exporter to the United States last year, delivering goods valued at US$142.48bil, according to the ITC Trade Map. Its figures indicate Malaysia is Asean's third largest exporter to the United States. Prime Minister Datuk Seri Anwar Ibrahim told a special Dewan Rakyat sitting on May 5 that Malaysia's exports to the United States stood at RM199bil in 2024. Anwar said that exports to the United States made up 13% of Malaysia's total exports. Electrical machinery and equipment is the top category of goods exported by Asean to the United States. Industrial machinery is second, followed mechanical appliances and components. The ITC Trade Map's figures show that Malaysia is Asean's second biggest exporter of electrical machinery and equipment to the United States after Vietnam. Last year, Malaysia shipped US$28.43bil worth of electrical machinery and equipment to the United States, while Vietnam exported US$42.57bil. Electrical machinery and equipment were the main exports from six Asean countries to the United States, namely Vietnam, Malaysia, Thailand, Philippines, Indonesia, and Laos. Singapore's main export to the United States is pharmaceutical products while Cambodia's main exports comprises of apparel and clothing accessories. Some Asean countries lead the region in terms of its US exports for certain types of goods. Thailand, for example, is the regional leader in terms of car exports to the United States, shipping US$2.59bil of vehicles to America last year. Malaysia meanwhile leads in the export of aircraft parts to the United States, which stood at US$0.45bil in 2024.
Zawya
07-04-2025
- Business
- Zawya
Qatar's agriculture market size forecast to be $180mln in 2025
Doha, Qatar: The agriculture sector in Qatar is progressing with a strong emphasis on technology, sustainability, and food security. A recent study by the global analytical platform Mordor Intelligence reports that Qatar's agriculture market size is expected to reach $180.30m (QR656.47m) this year. At the same time, the report notes that it is estimated to amount to $235.31m (QR856.76m) by the decade-end. Over the recent years, the industry has experienced significant growth driven by increasing food demand due to rapid population growth and government initiatives aimed at enhancing food security. These efforts have led to notable advancements, such as the implementation of the Public-Private Partnership (PPP) law, improvements in distribution channels, and financial incentives to encourage domestic production. Despite Qatar's arid climate, the country has adopted sustainable practices, utilising technologies like automated irrigation, aquaponics, and hydroponics to improve both the yield and quality of its agricultural output. Although Qatar has made substantial investments to strengthen domestic agricultural production, it remains heavily reliant on imports to meet the growing demand for food. Mordor Intelligence highlights that key imports include cereals, fruits, and vegetables, with major exporters like Brazil, the United States, India, and Australia fulfilling these needs. As per the ITC Trade Map, Qatar imported vegetables worth $0.26m in 2022, marking a 13 percent increase from the previous year. Likewise, cereal imports reached $0.26m in 2022, reflecting a 35 percent rise compared to the previous year. As part of its efforts to diversify the economy, the country is making significant strides in increasing local food production and reducing reliance on imports. Qatar hosts agricultural events such as AgriteQ (Agriculture Qatar Exhibition), which brings together industry professionals and innovators to showcase new technologies and trends in agriculture. These events facilitate knowledge exchange and highlight advancements in agri-tech that can be applied within Qatar's unique environment. The report mentioned that local farms in Qatar are bolstering vegetable production by utilising advanced methods suited for both outdoor and indoor cultivation. These initiatives include the use of state-of-the-art equipment and techniques that are specifically adapted to the country's climate. Researchers at Mordor Intelligence stated that despite the challenges posed by its environment, the government's proactive approach—such as investing in agri-tech and forming international partnerships—helps establish the groundwork for a more self-reliant and sustainable agricultural future. Qatar has also been expanding its agribusiness investments both domestically and internationally. These efforts include securing agricultural projects abroad to ensure a steady supply of food products. The country formed partnerships with foreign agribusiness companies to enhance local production capabilities. With the ongoing government initiatives and market analysis, the report indicates that by 2030-end, the agriculture sector in Qatar will witness a compound annual growth rate of 5.47 percent. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
