Jan 11, Kathmandu - As the US-India trade agreement faces uncertainties, India is intensifying efforts to explore new markets. The country is actively seeking alternative trade agreements to mitigate the impact of stringent US tariffs and expand its export opportunities.

The relationship between India and the United States cooled last August after the Trump administration increased tariffs by up to 50%. This move not only threatened jobs but also hindered India’s long-term ambitions of becoming a major hub for production and exports, prompting New Delhi to look beyond its largest market.

To this end, India is working on new trade agreements or expanding existing ones with the United Kingdom, the European Union, the European Economic Union, Mexico, Germany, Chile, and the Mercosur trade bloc in South America, according to Ajay Srivastava of the Global Trade Research Initiative in New Delhi, as reported by AFP.