India’s exposure to US trade risks is lower than that of other Asia-Pacific economies, though sectors like food, textiles, and pharmaceuticals remain vulnerable, Moody’s Ratings said on Tuesday. Most Indian firms in its rated portfolio are domestically focused, limiting direct risks from US policies. Meanwhile, India and the US are negotiating lower import tariffs, greater market access for US farm goods, and higher energy purchases, aiming for a trade deal by fall 2025. Across APAC, developing economies like India, Vietnam, and Thailand face steep rate differentials with the US. Electronics, motor vehicles, food, and textiles are among the most exposed sectors. Moody’s warned that emerging markets reliant on export-led growth will struggle in an increasingly protectionist global trade environment.Data
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