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This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse. Subscribe here.
Indians celebrated Diwali this week — offering prayers for prosperity and good fortune.
Those invocations come at a crucial time, as Indian exporters continue to grapple with punishing U.S. tariffs of 50%.
The levies have been particularly worrisome for India’s labor-intensive textiles, and gems and jewelry sectors. The U.S. remains the country’s single largest export destination, accounting for more than $45.8 billion, or over 20%, of its total exports between April — start of India’s financial year — and September.
