India, Aug. 27 -- Trade is a key driver of economic growth. After a prolonged period of disruptions and volatility, global trade regained momentum in 2024, outpacing global output growth for the first time since 2017. India mirrored this trend, with net exports contributing positively to GDP growth during 2024-25. However, there has been renewed volatility, driven by the tariff changes announced by the US since April 2025.

The latest executive order by the US, which includes increased tariffs of up to 50% on select Indian goods, is set to take effect from today. As per our estimates, over 44% of India's exports to the US is expected to remain insulated from the tariff hike. This includes products that are exempted from tariffs, such as p...