NEW DELHI, August 18. /TASS/. The growth rates of Indian exports to the US in April-July were seven times higher than the growth of the South Asian republic's total exports to other countries, the Indian Ministry of Commerce reported.
Exports to the US market rose by 21% in the reporting period to $33.5 bln, while total exports gained 3% to $149.2 bln, according to the report.
While India's growing exports to the US make it vulnerable to the upcoming implementation of a 50% tariff on Indian goods by the US on August 27, trade circles in the country believe that with the increase in supplies, some concessions for New Delhi in Washington's tariff policy could be expected in the future.
The US administration has imposed additional tariffs of 25% on India in connection with its purchase of Russian oil. Along with the US' decision to impose a 25% tariff on Indian goods taken earlier, the tariff for the South Asian republic will now total 50%. US President Donald Trump said earlier that India always imported most of its military equipment from Russia, being the largest buyer of Russian energy resources along with China. The Indian Foreign Ministry slammed US and EU attacks on Russian oil imports as unjustified, as Western countries used to encourage such trade and continued to purchase goods and services from Russia themselves.
Following talks with Russian President Vladimir Putin in Alaska, Trump admitted that Washington would not impose import duties on Russia's trading partners.