Dammu Ravi, secretary (economic relations), Ministry of External Affairs
India is looking for new export markets in Asia, Africa and Latin America amid ongoing trade tensions with the US, Dammu Ravi, secretary (economic relations), Ministry of External Affairs said on Thursday.
While negotiations for trade deal with the US are ongoing, Ravi said India is also looking for opportunities in new markets.
“If it becomes difficult to export to the US, then you will automatically look at other opportunities both within own region in South Asia and Africa, Middle East and Latin America. These are the potential areas,” Ravi said on sidelines of Indo-Brazilian trade conference in Mumbai.
On Wednesday US president Donald Trump announced additional 25 per cent tariffs on India taking the total levies on Indian exports to 50 per cent.
The Indian government has criticised the US decision as unfair, unjustified and unreasonable.
Ravi said the there was no logic behind US actions especially as India and US are strategic partners.
“Leaders and the businesses on both sides are looking for opportunities. Perhaps this is a phase we have to overcome. The negotiations are still going on. So we are confident that solutions will be found in course of time looking at mutually beneficial partnership,” he said.
Like India, Brazil too is facing steep US tariffs and it’s President Luiz Inácio Lula da Silva has indicated plans to call Prime Minister Narendra Modi and leaders of Russia and China with a view to issue a joint statement on US decision.
Ravi said he was not privy to that information. He asserted that Indo-Brazilian relations remain strong and the delegation visit under Lide Brazil India Forum to Mumbai is a testament of strong ties between the two countries.
“I think this visit wil lead to greater collaborations and joint ventures. Doing more collaborations and joint manufacturing is the way forward in my view because that brings value addition and also creates jobs,” he said.
Last month Prime Minister Modi visited Brazil and two countries have decided to expand ties in various areas including agriculture, defence, energy and digital partnership. The countries have decided to expand bilateral trade to $ 20 billion annually over next five years.
“In the past two years we have received 73 business missions and I think over 40 missions from India have visited Brazil,” said Brazil’s ambassador to India, Kenneth Nobrega.
Both countries are also discussing expansion of a preferential trade agreement between India and Mercosur trading bloc which comprises Argentina, Brazil, Paraguay and Uruguay, he said.
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Published on August 7, 2025
