Fearing Trump's tariff, apple sent its goods to America…?
To avoid US President Donald Trump's reciprocal tariff, there was a last minute export rush among companies. This helped india reach last year's export level of $437 billion. iphone maker apple was also far ahead in this matter. It is being said that to fill its warehouses with stock before the tariff increase, the company sent five planes full of iPhones and other products to America in just three days.
apple sent its goods from china and India
Last Saturday, the Times of india had said in its report that apple has sent a large number of shipments from both india and china, even though this is a low shopping season. Another official said that the same trend was seen in the case of many other electronics products. Exports of gems and jewellery also increased a lot during this period.
Gems and jewellery exports to the US through the Precious Cargo Clearance System for Customs in mumbai between april 1 and 4 jumped nearly six-fold to $344 million from just $61 million in the same period last year, possibly to avoid the 10 per cent baseline tariff that came into effect from midnight on Saturday. Similarly, shipments of clothes have also seen a similar surge.
Exports may cross $800 billion
India's goods and services exports are expected to cross $800 billion during the financial year that ended in March. India's goods exports fell by 3 per cent in 2023-24 to reach $778 billion.
According to the Times of india report, Kirit Bhansali, chairman of the Gems and Jewellery Export Promotion Council, said, "There has been a tremendous jump in exports in the last week of March." FIEO director General ajay Sahai said, "Exports were higher from sectors in which it was possible to transport goods to the US by air. I expect exports of more than $40 billion in march 2025." The trade data is scheduled to be released on april 15.
click and follow Indiaherald WhatsApp channel