A strategic pivot in India’s import strategy could reshape global precious metals flows. Moving beyond energy, where US oil and gas imports have surged, New Delhi now eyes gold and silver from America instead of the UAE. This policy, disclosed by a top official, targets cost reductions and trade balance improvements.
Lower import prices may soon ripple through India’s markets, benefiting a nation that devours gold for cultural and economic reasons. The US dominates exports, dispatching raw, refined, and fabricated metals worth billions to India and others. India’s agri-trade edge—$1.3 billion surplus—persists amid strict import protocols banning GMOs and imposing quotas.
The interim trade agreement shines brightest for data centers. High duties once inflated GPU server costs by 20-28%, but cuts now forecast 14% savings, rivaling global hubs. Encompassing broad tariff slashes to zero on key exports, the deal bolsters textiles, jewelry, machinery, and pharma sectors. India’s $86.35 billion 2024 exports stand to gain immensely, with $30.94 billion seeing duties halved to 18% and $10.03 billion going duty-free.
This framework balances growth with safeguards for farmers and small businesses, promoting tech ties and market access. As bilateral trade evolves, India’s exporters gear up for heightened competitiveness.