US tariffs to cut India's FY26 container cargo growth by 300 bps: ratings agency

JSW Infrastructure

28/08/2025 09:37

** CareEdge Ratings sees container cargo growth at Indian ports slowing 300 bps y/y in FY26, hurt by steep U.S. tariff

** Credit rating agency expects 8% growth in India's container volumes in FY26 vs 11% growth in FY25, 10% in FY24

** Expects overall cargo growth to taper to 2% in FY26 from 3% in FY25

** Says additional 25% U.S. tariffs on Indian goods, which took effect on Wednesday, "adversely impacting" sectors like home textiles, gems, shrimp products, among others

** Adds U.S. accounts for 20% of India's exports; sea-borne trade with Washington (ex-electronics) accounts for ~5% of India's total maritime shipments

** Adani Ports APSE.NS up 0.5%; set to rebound after four straight sessions of losses

** JSW Infrastructure JSWN.NS rises 0.3%; eyes rebound after falling for three consecutive sessions

** Analysts say APSE more susceptible to tariff-induced global trade challenges than JSWN due to higher focus on containers

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))