Indian businesses are looking to expand production in Africa for exporting to the US, after President Donald Trump hit the South Asian nation with one of the steepest levies globally as punishment for purchases of Russian oil.
GAP Inc. supplier Gokaldas Exports Ltd. and premium garments maker Raymond Lifestyle Ltd. are among the companies planning to leverage tariffs of as low as 10% in some African countries, compared to the 50% levy on Indian exports. Diamond and jewelry exporters are also looking into expanding on the continent.
Indian companies are scrambling to offset the pain from US tariffs and ...
