New Delhi, Feb. 11 -- US tariff relief has calmed export sentiment, for now, in a volatile trade environment, according to rating agency ICRA. In a recent statement, the agency noted that the outlook on apparel exports has been restored to 'stable', while the outlook for the cut and polished diamonds sector remains negative.

The rating agency highlighted that the downward reset in US tariffs to 18 per cent from the elevated levels seen in 2025 represents a "relatively smooth landing for Indian exporters at a time when global trade dynamics remain fluid." This change follows a US-India joint statement that lowered reciprocal tariffs from 25 per cent to 18 per cent. Additionally, an additional ad valorem duty of 25 per cent on Indian impor...