Reported about 15 hours ago
India is preparing for a significant downturn in exports as new U.S. tariffs impact a large range of Indian goods, threatening over half of its exports to the United States. The tariffs, which have risen to 50% due to additional charges linked to India's oil purchases from Russia, are projected to affect approximately $48.2 billion in exports, particularly in labor-intensive sectors like textiles and leather. While some sectors are exempt from these tariffs, exporters are raising concerns over potential job losses and economic slowdown, sparking discussions within the Indian government about reforms and diversifying trade partnerships.
Source: YAHOO