India’s economy faces sharp fallout from Trump’s 50% tariffs on US imports. The United States is India’s largest export market, worth $86.5 billion annually, with two-thirds of shipments now covered by the tariff wall.
Exports from job-heavy sectors such as textiles, gems, jewelry, seafood, and leather could plunge by 70 percent, falling from $60.2 billion to $18.6 billion, while total shipments may decline by 43 percent, according to a news report in the Guardian.
Economists warn the duties could shave up to one percentage point off India’s GDP growth this year, undermining New Delhi’s growth targets. Unemployment is a key concern, with millions of workers in labor-intensive industries at risk of layoffs as competitors like Bangladesh, Vietnam, and Mexico gain ground.