New Delhi, Aug. 26 -- The exports of the labour intensive sectors in the country brace for a collapse of up to 70 per cent as US tariffs set to take effect, according to a report by the Global Trade Research Initiative (GTRI).

The new tariff regime set to take effect from August 27 as US Custom department published draft on Tuesday.

As per the GTRI report it will impact a large portion of India's export basket, particularly in sectors generating massive employment.

The report said "Labour-Intensive Sectors Brace for 70 per cent Export Collapse"

The report noted that U.S. tariffs will hit 66 per cent of India's total exports worth USD 86.5 billion, amounting to USD 60.2 billion in goods, which will face duties of 50 per cent or higher....