Chennai, Feb. 3 -- The US decision to slash its import tariff on most Indian goods from 50 per cent to 18 per cent will reinvigorate the country's export growth to America, credit rating agency Moody's Ratings said.
"The reduction of the US tariff rate on most Indian goods will boost India's goods exports to the US, which remains the country's largest export market, accounting for about 21per cent of India's total goods exports in the first eleven months of 2025," Moody's Ratings said.
"Lower tariff rates will also be credit positive for labor-intensive sectors such as gems, jewelry, textiles, and apparel, which are among India's top export sectors. However, pharmaceuticals and consumer electronics-the other two major export sectors-had a...