New Delhi, Sept. 4 -- Indian exports are facing mounting pressure from punitive US tariffs, while discounted Russian crude continues to provide significant relief to the country's balance of payments.

More than half of shipments to the US market are now subject to higher duties, even as cheaper energy imports help offset external vulnerabilities.

In an interview with The Indian Express, former Reserve Bank of India Governor and IMF Executive Director Urjit Patel said around 55 per cent of India's exports to the United States are under punitive tariffs.

He cautioned that abrupt changes in tariff regimes over recent months have increased investment uncertainty, but noted that with the US accounting for just 13 per cent of global trade, t...