India’s trade playbook is undergoing a significant rewrite. Having already boosted US energy imports, the government is now targeting precious metals. Officials confirm plans to increase gold and silver purchases from America, sidelining traditional supplier UAE. This recalibration seeks cheaper sourcing and trade equilibrium.
Expectations are high for price stabilization in India’s gold and silver markets, which heavily influence everything from weddings to investments. The US, a top-tier exporter, ships vast quantities of these metals in various forms to key markets worldwide. Recent data underscores America’s role, with billions flowing to nations including India.
Trade figures paint a clear picture: India’s $2.8 billion agricultural exports to the US dwarf its $1.5 billion imports, yielding a healthy surplus. Yet, imports face rigorous checks—no GM foods allowed, plus TRQ restrictions. The new interim trade deal extends benefits to data centers, where duty cuts on GPU servers promise 14% lower setup costs versus rivals like Singapore.
Crafted with fairness in mind, the pact features sweeping tariff reductions, zero-duty access for select categories, and enhanced digital collaboration. It protects vulnerable sectors while unlocking opportunities in textiles, gems, pharma, and more. With 2024 exports reaching $86.35 billion, duty relief on over $40 billion in goods positions Indian exporters for a competitive edge in the vast US marketplace.