The Indian government estimates that the newly imposed 50% US tariff will affect exports worth USD 48.2 billion. Officials have warned that the additional duties could make shipments to the US commercially unviable, potentially leading to job losses and slower economic growth.
To soften the impact, the government is working on a multi-pronged strategy, including Goods and Services Tax (GST) reforms aimed at boosting domestic demand. The 50% tariff, effective from Wednesday (August 27), is expected to hit exports of textiles, shrimp, leather, and gems and jewellery the hardest.
The US accounts for nearly 40% of India's seafood exports, making the sector—especially shrimp—particularly vulnerable. Pharmaceuticals, electronics, and petroleum products remain exempt from the new duties. According to The Economic Times, India exported goods worth USD 86 billion to the US in FY2025.
Source: Trading Economics
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds. Equity markets ha...
The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one of which was sailing under a Russian flag, as part of President Donald Trump's aggressive efforts to regulate oil...
France is working with partners on a plan on how to respond should the United States act on its threat to take over Greenland, a minister said on Wednesday, as Europe sought to address U.S. President ...
The world community must make clear that U.S. intervention in Venezuela is a violation of international law that makes the world less safe, the Office of the United Nations High Commissioner for Human...
US President Donald Trump threatened on Friday to come to the aid of protesters in Iran if security forces open fire on them, days after unrest that has killed several people and posed the biggest int...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...