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www.newsindiatimes.com – that’s all you need to know (December 20, 2025 - December 26, 2025) December 26, 2025 8 News India Times US-India Analysis-India’s Exports Defy Tariffs, Strengthen Hand In US Trade Talks Apple In Talks With Indian Chipmakers To Assemble, Package iPhone Components, ET Reports D ec 17 (Reuters) – Apple is in early discussions with Indian chip- makers to assemble and package components for the iPhone, the Economic Times reported onWednesday, citing people familiar with the matter. It is the first time Apple has considered assembling and packaging some chips in India, the ET report said, adding that it is unclear which chips will be packaged at the Sanand facility, though they are likely display chips. Apple held talks with Murugappa Group-owned CG Semi, which is building an outsourced semiconductor assembly and test (OSAT) facility in Sanand, Guja- rat, the report said. Reuters could not immediately verify the ET report. Apple and CG Semi did not immediately respond to Reuters’ request for a comment. CG Semi told ET that it does not com- ment on market speculation or discus- sions with specific customers. “We will make appropriate disclosures as and when there is something concrete to share,” the company told the newspaper. Apple has been aiming to make most of its iPhones sold in the United States at factories in India by the end of 2026 and is speeding up those plans to navigate po- tentially higher tariffs in China, its main manufacturing base, Reuters reported in April. In April, the U.S. administration im- posed 26% duties on imports from India, far lower than the more than 100% levied on Chinese goods at the time. Washington has since paused most duties for three months, except those on China. -Reuters Photo: REUTERS/Francis Mascarenhas/File Photo Apple iPhones are seen inside India’s first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. N EW DELHI, Dec 16 (Reuters) – India’s exports leapt in November in defiance of U.S. President Donald Trump’s steep tariffs, providing fresh leverage in ongoing trade talks withWashington and easing pressure on New Delhi to strike a quick deal. Shipments to the United States rose more than 22% in November from a year earlier, outpacing India’s overall export growth of more than 19%, which lifted total goods exports to $38.13 billion, government trade data released on Monday showed. Goods exports were the highest for any November in a decade. Robust shipments have tempered fears of a prolonged tariff-led slump after trade talks between the two nations fell apart and Trump doubled duties on Indian goods to 50% in late August, the highest in the world. The hike included a 25% levy that was in retaliation for India’s purchases of Russian oil. The move had initially hit exports and pushed the rupee to a record low as investors awaited progress in trade negotiations. Exports to the U.S. had fallen nearly 9% year-on-year in October after touching a record low in September. Analysts said November’s export recovery, coupled with India’s strong domestic economy, reduces the urgency for New Delhi to make concessions in talks with Washington. “After the recovery in U.S. exports despite no tariff relief, India now has the leverage to press for a tariff cut to 25% from 50%, especially after sharply reducing Rus- sian crude imports,” said Ajay Srivastava, founder of the Global Trade Research Initiative. Economists cited diversification and strong domestic demand as key drivers of resilience, which helped India’s economy beat forecasts to grow 8.2% in the July-Septem- ber fiscal second quarter. GDP is forecast to accelerate to at least 7% in the 2025/26 year. “Improvement in exports signals resilience and diver- sification,” said economist Madhavi Arora from Emkay Global. The U.S.-bound exports have been led by tariff-free sectors such as electronics while tariff-hit sectors have performed better than expected, likely due to exporters tapping new markets, Arora said. India’s exports of electronic goods during April to No- vember jumped 38% from a year earlier, data showed. Over the years, rising domestic production of smart- phones by global giants such as Apple has been central to India’s manufacturing push. Between March and May, for instance, nearly all the iPhones exported by Foxconn from India went to the United States, reflecting a realign- ing of its India exports to almost exclusively serve the U.S. market this year. Services exports also provided an additional buffer, totalling around $35.86 billion in November and con- tributing to a nearly $18 billion services trade surplus, according to government estimates. A weaker currency has also softened the tariff blow. The rupee has slid about 6% against the dollar this year, making it among the worst-performing major currencies globally. INDIA HOLDS ITS GROUND Encouraged by the improved data, Indian offi- cials have maintained a firm stance against U.S. trade demand, signalling limited flexibility in areas such as agricultural imports. India has no plans to increase imports of products such as corn or to allow genetically modified crops, which remain key U.S. demands, a senior government official, involved in trade talks, said. The Indian trade ministry did not immediately re- spond to an e-mailed request for comment. Indian Prime Minister Narendra Modi said he spoke to Trump by phone last week, their third call sinceWashing- ton doubled tariffs on India, but the discussions remain inconclusive. The call followed U.S. Deputy Trade Representative Rick Switzer’s two-day visit to New Delhi that did not lead to agreement over a deal. India’s trade secretary said on Monday “there’s a fair expectation” that both sides could agree on a deal to lower reciprocal tariffs and they were close to a frame- work deal. Exporters, however, remain cautious. While overall marine exports rose about 20% during April–November to $5.7 billion, driven by higher ship- ments to China, Vietnam, Russia, the European Union and the Middle East, shipments to the U.S. have plum- meted. Exporters are concerned as U.S. exports com- mand higher profit margins. Pawan Kumar, managing director of Sprint Exports and president of the Seafood Exporters Association of India, said his company’s exports to the U.S. had dropped to near zero after tariffs of around 50%made shipments unviable. “We are keenly watching the talks,” he said. “Regaining the U.S. market is the only permanent solution.” -Reuters Photo: REUTERS/Adnan Abidi/File Photo FILE PHOTO: Workers stitch dresses at a garment manufacturing unit in Noida, India, August 27, 2025.