When President Donald Trump imposed a 27% tariff on most Indian exports to the United States, there was anxiety in New Delhi. But there was also calculation. The business leaders of India and government officials saw something more than just a slap on the wrist. They saw an opening. China, India's biggest economic rival, was hit far harder. Vietnam, too. And when Trump doubled down, lifting the tariff on Chinese goods to a whopping 145%, India’s prospects began to look even brighter.
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