India’s exporters face ‘strategic shock’ as US tariffs over Russian oil kick in
The 50 per cent tariffs will hurt India’s textiles, jewellery, and seafood sectors, leading some exporters to stop production
The Indian government estimates the tariffs will impact US$48.2 billion worth of exports. Officials have warned the new duties could make shipments to the US commercially unviable, triggering job losses and slower economic growth.
India–US trade relations have expanded in recent years but remain vulnerable to disputes over market access and domestic political pressures. India is one of the fastest-growing major global economies, and it may face a slowdown as a result.
Sectors to be impacted by US tariffs
Estimates by New Delhi-based think tank Global Trade Research Initiative suggest labour-intensive sectors such as textiles, gems and jewellery, leather goods, food and automobiles will be hit hardest.