The mutual fund industry in India continues to witness strong retail participation, as Systematic Investment Plan (SIP) inflows surged to a record high of ₹26,688 crore in May 2025, according to data released by the Association of Mutual Funds in India (AMFI). This marks a marginal rise from ₹26,632 crore recorded in April, signaling consistent long-term commitment by investors despite market volatility.

Key Highlights:

• SIP Inflows Rise: SIP contributions increased by 0.21% month-on-month to ₹26,688 crore in May.

• SIP AUM Growth: The SIP assets under management (AUM) rose to ₹14.61 lakh crore in May from ₹13.90 lakh crore in April.

• SIP Share in Total AUM: SIP AUM now accounts for 20.24% of the mutual fund industry’s total AUM, up from 19.9% in April.

• SIP Account Growth: The number of active SIP accounts climbed to 8.56 crore, while the total SIP accounts reached 9.06 crore, reflecting growing investor participation.

• Lower SIP Stoppage Ratio: For the first time in months, the SIP stoppage ratio improved, with 59 lakh new SIP accounts opened and 43 lakh closed or matured in May.

Mutual Fund Industry Performance – May 2025

Despite a 21.66% decline in net inflows into open-ended equity mutual funds, totaling ₹19,013 crore—marking a one-year low—the mutual fund industry continued to expand.

• Overall Mutual Fund Net Inflows: ₹29,108 crore in May

• Total Industry AUM: Crossed a record ₹72.20 lakh crore, up from ₹69.99 lakh crore in April

Expert Commentary

“The underlying trend remains robust. Strong SIP inflows, which we have witnessed in recent times, are likely to continue. This reflects the growing maturity and long-term equity commitment among Indian investors,” said Himanshu Srivastava, Associate Director – Manager Research, Morningstar India.
He further noted that the dip in equity fund inflows appears cyclical, and a recovery is expected as macroeconomic indicators remain favorable.

Why This Matters for Investors

The continued rise in SIP inflows amid equity market corrections highlights the growing financial discipline among Indian retail investors. Systematic Investment Plans (SIPs) remain a powerful tool for wealth creation, especially in volatile markets.

With mutual fund AUM reaching all-time highs and SIP contributions setting new records, India’s mutual fund industry is positioned strongly for sustained growth through FY2025.

Source: Moneycontrol

India’s tax revenues continue to showcase resilience, as the gross Goods and Services Tax (GST) collections for May 2025 rose to ₹2.01 lakh crore, marking a significant 16.4% year-on-year increase from ₹1.72 lakh crore in May 2024. This robust uptick follows the historic ₹2.37 lakh crore collected in April 2025, indicating sustained tax buoyancy despite ongoing global economic uncertainties.

According to the Ministry of Finance, this is the second consecutive month with GST collections crossing the ₹2 lakh crore mark—highlighting strengthening economic activity and improved compliance across the board.

Detailed GST Revenue Break-Up – May 2025

• Central GST (CGST): ₹35,434 crore

• State GST (SGST): ₹43,902 crore

• Integrated GST (IGST): ₹1.09 lakh crore

  • Includes ₹39,879 crore collected on import of goods

• GST Compensation Cess: ₹12,879 crore

• Total GST Refunds: ₹27,210 crore (decline of 4% YoY)

Imports Drive the Growth in Collections

The revenue spike was mainly driven by a 25.2% increase in GST collected from imports, while GST from domestic transactions saw a healthy growth of 13.7%, signaling a broad-based expansion.

Vivek Jalan, Partner at Tax Connect Advisory Services LLP, emphasized this trend:

“It is very clear that this month’s growth in GST revenue is import-driven rather than domestic consumption-led. Even year-to-date trends reflect this imbalance, and the lack of a corresponding increase in export refunds further confirms the dominance of import growth.”

This trend suggests that global supply chain shifts, along with sustained demand for imported goods, are playing a larger role in India’s tax landscape this fiscal year.

Expert Views: What the Numbers Really Indicate

According to Saurabh Agarwal, Tax Partner at EY:

“Last month’s higher GST numbers were partly influenced by year-end B2B sales to meet targets. However, the current month’s figures suggest some caution in consumer demand, likely influenced by inflation moderation and international uncertainty.”

Yet, Agarwal remains optimistic, pointing out that continued upticks in GST collections across states and union territories—including Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Tripura, Meghalaya, Assam, Lakshadweep, and Andaman & Nicobar Islands—signal wider economic development and increased formalization of the economy.

GST Growth as a Policy Enabler

Notably, Pratik Jain, Partner at Price Waterhouse & Co LLP, sees this revenue consistency as a strong macroeconomic signal:

“If this momentum in GST revenue sustains over the next few months, it may give the government enough cushion to finally initiate long-pending GST rate rationalization, which has already been extensively studied and planned.”

Rate rationalization could help simplify India’s complex tax structure, reduce classification disputes, and improve overall tax compliance, boosting India’s image as a business-friendly destination.

Geopolitical Context and Consumption Patterns

Interestingly, this surge in GST revenue comes amid ongoing global geopolitical tensions, including trade policy uncertainties and supply disruptions. While these factors typically depress trade and investment flows, India appears to be holding its ground through resilient imports, infrastructure push, and formalization of small businesses.

At the same time, a slight drop in GST refunds (down 4% YoY) indicates a shift in input-output balances. Analysts caution that if the trend of higher imports without matching export growth continues, India must stay vigilant about its current account and ensure policy support for domestic industries.

Outlook: Can GST Stay Above ₹2 Lakh Crore?

Looking ahead, experts project similar revenue figures in June 2025, with minor fluctuations expected due to international price volatility and festive consumption patterns. As monsoon forecasts remain positive and inflation stays within the RBI’s comfort zone, domestic demand could regain strength by the second quarter of FY26.

Moreover, the consistent high GST collections are seen as a positive sign for India’s fiscal health, providing room for higher capital expenditure without breaching fiscal deficit targets.

Source: Economic Times

India’s foreign direct investment (FDI) trajectory over the last decade has undergone a dramatic transformation, reflecting a deeper global trust in the country’s economic and policy direction. Since the launch of flagship initiatives such as Make in India, Digital India, and the Production Linked Incentive (PLI) scheme, India has not only attracted record-breaking foreign capital but also repositioned itself as a strategic hub in the global economy.

FDI Surge: From Potential to Performance

To begin with, between 2004 and 2014, India received approximately $208 billion in FDI equity inflows. However, post-2014, the landscape changed significantly. Over $500 billion has flowed into India, with a staggering $300 billion arriving between 2019 and 2024 alone. Moreover, despite geopolitical and economic headwinds, India secured $40.67 billion in FDI during the April–December 2024 period. Clearly, this is not just steady growth- it represents a fundamental shift in global investor confidence.

Sectoral Momentum: Digital & Manufacturing Lead the Way

Furthermore, India’s digital economy has emerged as a clear winner. Since 2014, the computer software and hardware segment has attracted $95 billion in FDI. In addition, the services sector- including finance, IT, R&D, and consultancy- has garnered $77 billion. This clearly shows that India has evolved from being a back-office destination to a global innovation and technology hub.

But more importantly, the resurgence of manufacturing has rewritten the narrative. For instance, in 2014, India imported nearly 80% of its smartphones. Today, that number has flipped, largely due to the success of the PLI scheme. Global giants like Apple- via Foxconn and Wistron- are now assembling iPhones in India. As a result, smartphone exports have surged to $21 billion, up from negligible levels just a decade ago.

In parallel, sectors such as auto, construction equipment, and pharmaceuticals are experiencing robust FDI inflows. This indicates a deliberate transition from a service-dominated model to a more balanced and broad-based growth framework. Notably, every dollar of FDI is not just capital- it is a catalyst for job creation, MSME development, supply chain strengthening, and technology transfer.

Green Growth: India as a Clean-Tech Magnet

Equally important is India’s growing role in the global clean energy transition. Foreign investors are increasingly aligning with India’s sustainability goals. From renewable energy to electric mobility, India is fast becoming a magnet for green capital. Companies like Tesla, Hyundai, ReNew Power, and Adani Green are either expanding or deepening their presence. In essence, foreign capital is now enabling not only economic growth but also future-oriented, sustainable development.

FDI Across the Map: Rise of Emerging States

Traditionally, Maharashtra, Tamil Nadu, Gujarat, and Karnataka have led in attracting FDI. However, more recently, states like Uttar Pradesh, Telangana, and Haryana have begun gaining traction. Thanks to focused policy reforms, improved infrastructure, and strategic investment promotion, these states are emerging as competitive destinations in their own right.

India in the Global FDI Race: China Plus One Advantage

Meanwhile, on the global stage, India has smartly capitalized on the China Plus One strategy. As companies look to diversify their supply chains away from China, India stands out due to its political stability, economic scale, skilled workforce, and rising digital infrastructure.

In this context, trade agreements such as the India-UAE CEPA, India-Australia ECTA, and the ongoing FTA negotiations with the UK, EU, and EFTA nations are critical enablers. These pacts are opening high-value sectors like green hydrogen, fintech, and EV manufacturing to new cross-border investment flows.

Admittedly, India faces stiff competition from nations like Vietnam and Indonesia. Nevertheless, its unmatched combination of market size, reform momentum, institutional stability, and skilled talent continues to set it apart. Moreover, as India deepens reforms in land acquisition, judicial efficiency, and infrastructure, its capacity to anchor global value chains will only strengthen.

Conclusion: The New Global Investment Playbook

In conclusion, India’s FDI performance since 2014 is not just a testament to capital inflow it reflects a global endorsement of India’s structural transformation. The convergence of scale, reform, digital infrastructure, and manufacturing ambition has turned India from a promising market into a priority market.

As global supply chains realign and new trade corridors emerge, India is no longer pitching its potential- it is executing with scale and precision. Looking ahead, the next decade will not be about catching up- it will be about leading from the front.

Source: Economic Times

Borrowers Cheer, But Savers Face a Setback as Deposit Rates Likely to Fall

In a surprise move, the Reserve Bank of India (RBI) has announced a significant 50 basis points (bps) cut in the repo rate, bringing it down to 5.50% during its June 2025 Monetary Policy Committee (MPC) meeting. This marks the third consecutive rate cut since February 2025, aimed at accelerating economic growth amid easing inflation.

Alongside the repo rate cut, the central bank has also slashed the Cash Reserve Ratio (CRR) by 100 bps to 3%, unlocking approximately ₹2.5 lakh crore worth of lendable funds for the banking system.

Why Did RBI Cut the Repo Rate?

The primary factor behind the aggressive rate cut is the continued moderation in retail inflation. Headline CPI inflation dropped to 3.2% in April, its lowest level since July 2019, down from 3.3% in March. The decline has largely been driven by falling food prices.

With inflation remaining consistently below the RBI’s 4% target over the past three months, the central bank has found room to ease monetary policy without jeopardizing price stability. Under the Flexible Inflation Targeting (FIT) framework, the RBI aims to maintain CPI at 4%, with a tolerance band of ±2%.

RBI Governor Sanjay Malhotra stated, “With core inflation expected to remain benign, frontloading the rate cut is imperative to support growth amid global uncertainties and tariff-related pressures.”

Impact on Borrowers and Savers

The rate cut will come as welcome news for borrowers, especially those with home or personal loans linked to external benchmark lending rates (EBLR). Loan EMIs are expected to fall by approximately ₹800–₹1,200 per ₹1 lakh of loan, depending on the loan tenure and bank’s pass-through mechanism.

However, the move will likely hurt savers and depositors. Banks are expected to reduce deposit interest rates to align with falling lending rates. Savings accounts already yield historically low returns — some as low as 2.7% — and may face further reductions.

Bond Markets React Positively

Bond markets are expected to rally as lower interest rates drive up bond prices and reduce yields. Government securities, in particular, are likely to see increased investor demand, offering capital gains to existing bondholders and enhancing overall returns on fixed-income portfolios.

Economic Forecasts: Growth Holds, Inflation Revised Downward

The RBI retained its real GDP growth projection at 6.5% for FY2025-26, citing a rebound in private consumption, resilient corporate and bank balance sheets, and continued government capital expenditure. The central bank expects the Indian economy to remain the fastest growing major economy globally.

Inflation projections for FY2025-26 have been revised downward to 3.7%, thanks to easing supply chain bottlenecks, falling global commodity prices, and expectations of an above-normal monsoon boosting agricultural output.

Key Highlights from RBI June 2025 Policy

• Repo Rate: Reduced by 50 bps to 5.50%
• CRR: Reduced by 100 bps to 3%, releasing ₹2.5 lakh crore liquidity
• CPI Inflation (FY26): Projected at 3.7%
• GDP Growth (FY26): Maintained at 6.5%
• Policy Stance: Shifted from ‘Accommodative’ to ‘Neutral’

With inflation under control, the RBI has chosen to stimulate the economy through aggressive rate cuts. While this offers relief to borrowers and supports investment sentiment, savers may need to explore alternative investment options to maintain real returns.

Stay tuned to our platform for more updates and expert analysis on what these changes mean for your portfolio.

Source: The Indian Express

In a stormy 2025 for Indian mutual funds, about 70% of mutual fund schemes across equity, debt, hybrid, and precious metals categories have delivered positive year-to-date (YTD) returns, showcasing resilience amid global tensions and market volatility.

Market Snapshot: Tepid Equities, High Volatility

The Indian equity market has experienced muted returns so far in 2025. The Nifty 50 index gained only 4.68% YTD till May 28, while the Nifty Midcap 150 and Nifty Smallcap 250 indices fell 0.46% and 5.89% respectively. Earlier in the year, the indices saw significant drawdowns, with the midcap and smallcap indices dropping up to 26%, reflecting heightened volatility due to:

• Ongoing US-China trade tensions

• Weak domestic earnings

• The India-Pakistan conflict

Nirav Karkera, Head of Research at wealthtech firm Fisdom, notes that “Indian equities were undergoing a healthy correction phase even before these events, making valuations attractive and creating pockets of opportunity that many thematic mutual funds have capitalized on.”

Key Performance Highlights: Defence, Gold, BFSI Lead Gains

Data from ACE MF, a mutual fund research platform, highlights that out of nearly 1,800 mutual fund schemes, about 1,650 funds with at least five months of track record show that 1,162 schemes are posting positive returns YTD.

• Top performer: The DSP World Gold Fund of Fund (FoF), investing in gold and gold mining companies, led gains boosted by a 25% rise in international gold prices.

• Gold funds overall have delivered an impressive average YTD return of 24%, driven by geopolitical uncertainty, tariff wars, and stock market volatility.

• The defence mutual fund category topped the charts with average returns exceeding 30% YTD, fueled by the India-Pakistan conflict and government approval of Rs 54,000 crore in defence orders.

• The Banking, Financial Services, and Insurance (BFSI) funds also performed well, returning an average of 8% YTD, as valuations in major banks became attractive, offering value investment opportunities.

Kirtan Shah, founder of Credence Wealth, adds, “Value investing has been the preferred strategy in BFSI funds, especially with many banks trading near pre-COVID valuation levels.”

Underperformers: IT, Digital, Smallcap Funds Lag

Not all sectors have fared well in 2025:

• Information Technology (IT) mutual funds are the worst performers, down over 11% YTD due to tariff-related uncertainties and the impact of the US Department of Government Efficiency’s (DOGE) spending cuts.

• Digital India thematic funds, along with smallcap and momentum funds, have also seen weak performance amid cautious investor sentiment and market turbulence.

Investment Strategy Outlook for 2025

According to experts, value investing remains key in the near term as markets transition from a correction phase:

• Kirtan Shah highlights ongoing uncertainty over global policies and interest rate dynamics.

• Motilal Oswal Private Wealth suggests that while largecap valuations have moved from attractive to fair, emerging selective opportunities exist in midcap and smallcap stocks.

Their recommended approach includes:

• Lump sum investments in hybrid, largecap, and flexicap funds.

• A staggered investment strategy over 2-3 months for midcap and smallcap funds, taking advantage of market pullbacks for more aggressive exposure.

The Indian mutual fund industry has scaled a historic high, with assets under management (AUM) crossing ₹70 trillion in March 2025 — marking a 22.25% year-on-year (YoY) growth, according to a report by ICRA Analytics. This robust expansion underscores rising retail participation and growing investor confidence, despite global uncertainties.

Equity, Hybrid, and Passive Funds Lead the Surge

Open-ended “other schemes” — which include index funds, ETFs, and FoFs investing overseas — posted the highest YoY growth at 23.80% in April 2025, followed by equity mutual funds (23.57%) and hybrid schemes (20.74%), as per data from the Association of Mutual Funds in India (AMFI).

Within the passive investment segment:

• Gold ETFs witnessed an explosive 87.33% YoY growth, reaching ₹61,422 crore.

• Index funds recorded a 31% YoY growth, taking the total AUM to ₹2,92,206 crore.

Sectoral and Debt Schemes Also Shine

In the equity category:

• Sectoral/thematic funds saw the highest AUM growth at 49.94%, followed by

• Multi-cap funds, which grew 35.79% YoY.

In the debt segment:

• Long duration funds surged by 58.14% YoY.

• Money market and ultra-short duration funds grew by 44.79% and 32.78% respectively.

Retail Participation on the Rise

The total number of mutual fund folios rose by 30.21% YoY as of April 2025. This growth was primarily led by:

• A 45.94% increase in folios for “other schemes”,

• A 31.39% rise in equity scheme folios.

However, debt scheme folios declined by 1.15%, suggesting a shift in investor preference toward equities and passive products.

Equity Inflows Continue Amid Global Tensions

Despite headwinds from geopolitical tensions and reciprocal tariffs imposed by the U.S., investor confidence remained resilient:

• Equity mutual funds recorded net inflows of ₹24,269.26 crore in April 2025.

• This marked the 50th consecutive month of positive inflows in the equity segment since March 2021.

• Although inflows dipped 3.24% month-on-month (MoM), they rose 28.29% YoY, reflecting long-term investor discipline.

ETFs and SIPs See Steady Growth

Domestic ETFs (excluding Gold ETFs) attracted record net inflows of ₹19,057 crore, reflecting a shift toward low-cost passive investing.

SIP (Systematic Investment Plan) metrics also showed strong growth:

• Total SIP accounts rose 5% YoY to 914.41 lakh.

• SIP contributions grew 31% YoY to ₹26,632 crore in April 2025.

• SIP AUM rose 23% YoY, and now comprises 19.85% of total mutual fund AUM.

In a historic economic milestone, India has officially surpassed Japan to become the fourth-largest economy in the world, confirmed NITI Aayog CEO BVR Subrahmanyam. Citing data from the International Monetary Fund (IMF), Subrahmanyam stated that India’s GDP has now reached USD 4 trillion, placing it behind only the United States, China, and Germany.

India’s Economic Rise: From Fragile to Fourth

“We are the fourth largest economy as I speak,” said Subrahmanyam, adding that India was ranked fifth until 2024. He emphasized that favorable geopolitical conditions and robust economic planning have supported this rapid ascent. The IMF projects India’s nominal GDP to hit USD 4.19 trillion in 2025, slightly ahead of Japan, thus marking this transition.

India’s journey is particularly remarkable given its past classification as part of the “fragile five” economies. Over the past decade, India has emerged as a global growth engine, now firmly positioned among the top global economies.

Steady Growth Path and Vision for 2047

According to the IMF’s World Economic Outlook (April 2025), India’s economy is projected to grow at 6.2% in FY 2025-26, driven by strong private consumption, especially in rural areas. This is significantly higher than the projected global growth rate of 2.8% for the same period.

India’s per capita income has doubled from USD 1,438 in 2013–14 to USD 2,880 in 2025, signaling improved living standards and economic inclusion.

Looking ahead, the NITI Aayog’s “Viksit Bharat @2047” vision outlines India’s ambition to become a USD 30 trillion economy and a high-income nation by its 100th year of independence. The framework focuses on six strategic pillars:

1. Macro-Economic Goals and Strategy

2. Empowered Citizens

3. A Thriving and Sustainable Economy

4. Technology and Innovation Leadership

5. Global Leadership – Vishwa Bandhu

6. Governance, Security, and Justice Delivery

India Poised to Become 3rd Largest Economy by 2028

With its current growth momentum and strategic policy reforms, India is on track to overtake Germany and emerge as the third-largest economy in the world within the next 2.5 to 3 years, according to Subrahmanyam.

The US has imposed a 26% reciprocal tariff on Indian goods (effective April 9, 2025) and a 34% tariff on Chinese goods under President Trump’s “Liberation Day” policy. While this presents short-term challenges, it also creates strategic openings for India.

𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 & 𝐒𝐞𝐜𝐭𝐨𝐫𝐚𝐥 𝐈𝐦𝐩𝐚𝐜𝐭
𝐄𝐱𝐩𝐨𝐫𝐭 𝐋𝐨𝐬𝐬𝐞𝐬: India’s exports to the US ($77.5B in FY24) could decline by $2.71B annually (-3–3.5%).
𝐆𝐃𝐏 𝐄𝐟𝐟𝐞𝐜𝐭: Growth may slow by 5–10 bps, but strong domestic consumption provides a buffer.
𝐂𝐡𝐢𝐧𝐚’𝐬 𝐁𝐢𝐠𝐠𝐞𝐫 𝐇𝐢𝐭: With $575B in US exports, China faces an estimated $195.5B loss-far exceeding India’s impact.

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐚𝐭 𝐑𝐢𝐬𝐤 & 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬
𝐓𝐞𝐱𝐭𝐢𝐥𝐞𝐬/𝐀𝐩𝐩𝐚𝐫𝐞𝐥: $9.6B exports at risk; India (26% tariff) could gain as China faces 34%.
𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥𝐬: Price pressure, but India strengthens its lead over China.
𝐆𝐞𝐦𝐬/𝐉𝐞𝐰𝐞𝐥𝐥𝐞𝐫𝐲: 30% of exports to the US vulnerable, yet India edges out China.
𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬: Over 50% of exports affected, but India benefits from China’s higher tariff.
𝐀𝐮𝐭𝐨𝐦𝐨𝐛𝐢𝐥𝐞𝐬 & 𝐏𝐚𝐫𝐭𝐬: India’s $2.6B export exposure is lower than China’s.
𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞: India’s high tariffs (39–100%) could invite retaliation, but China’s losses shift US focus.

𝐓𝐮𝐫𝐧𝐢𝐧𝐠 𝐚 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞 𝐢𝐧𝐭𝐨 𝐚𝐧 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲
𝐓𝐫𝐚𝐝𝐞 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐨𝐧: China’s $195.5B export loss leaves a gap in US markets—India can step in.
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐄𝐝𝐠𝐞: India’s diversified supply chains and growing trade routes (e.g., Middle East) provide an advantage.
𝐑𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐭 𝐄𝐜𝐨𝐧𝐨𝐦𝐲: Unlike China’s export-reliant model, India’s domestic-led growth mitigates risks.

𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐍𝐞𝐱𝐭 𝐒𝐭𝐞𝐩𝐬
𝐔𝐒 𝐓𝐫𝐚𝐝𝐞 𝐓𝐚𝐥𝐤𝐬: Push for exemptions in BTA negotiations, targeting $500B trade by 2030.
𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧: Accelerate FTAs with the UK, Canada, and EU (potential $15B+ gains by 2030).
𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐒𝐮𝐩𝐩𝐨𝐫𝐭: Address non-tariff barriers and leverage China’s tariff disadvantage.

𝐅𝐢𝐧𝐚𝐥 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲
Yes, India faces a $2.71B export hit, but China’s loss is nearly 72x bigger. This is India’s moment to step up, capture US market share, and accelerate global trade expansion. The key lies in fast-tracking negotiations and doubling down on competitive advantages.