New Delhi, Aug. 11 -- The steep tariffs imposed by US President Donald Trump on Indian goods threaten to significantly dent exports to the world's largest economy. Half of the 50% levy has already taken effect, with the rest kicking in on 27 August.

Several economists have called this India's next '1991 moment' and suggested the government seize this opportunity to unleash the next round of far-reaching domestic economic reforms.

Mint looks at the options the Indian government has to offset this impact. Can it diversify its exports to other markets or boost domestic consumption? Should it see this as the '1991 moment' to unleash reforms and take the economy to the next level?

In 2024-25, India exported $86.5 billion worth of merchandis...