India is diversifying its precious metals supply amid evolving global ties. Following increased US energy buys, the focus shifts to gold and silver imports, favoring America over UAE sources. Government insiders highlight potential price drops and a trimmed trade surplus as key wins.
The US’s prowess in metals trade—exporting massively in scrap, bullion, and jewelry forms—makes it an ideal partner. Billions move to India, Canada, and the UK annually. India’s agri surplus of $1.3 billion with the US underscores the relationship, though biosafety rules remain ironclad.
A game-changer emerges in the interim trade pact for data centers: GPU import duties slashed, cutting costs by 14% and closing the gap with Singapore. The agreement delivers 50% duty cuts to 18% on $30.94 billion exports and zero duties on $10.03 billion, spanning gems, textiles, pharma, and tech. With 2024’s $86.35 billion export tally, this enhances Indian goods’ US market penetration while shielding domestic players.