India, Aug. 27 -- Indian imports to the United States are now subject to 50 per cent tariffs, with the additional 25 per cent duties imposed by President Donald Trump for New Delhi's Russian oil purchase taking effect from Wednesday, leaving some sectors exposed to getting a hard strike.
Some sectors of India's export ecosystem have long relied on the US as their largest overseas market. While critical sectors like smartphones, pharmaceuticals, and energy have been spared, others - particularly gems and jewellery, textiles, auto parts, and seafood - are facing a significant blow.
Gems and jewellery
The US is the largest buyer of Indian gems and jewellery, accounting for nearly 30 per cent of the sector's global sales. With $10 billion ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.