Massive Blow to Indian Exports from US Tariffs

The US has enforced a steep 50% tariff on Indian goods from August 27, affecting exports worth $48.2 billion. Labour-intensive sectors like engineering, gems and jewellery, auto components, leather and footwear are expected to face the biggest hit.

Shrimp exporters will be taxed at 60%, while certain goods like pharma and mobile phones remain exempt.