New Delhi, Aug. 30 -- India is facing the brunt of the tariffs imposed by the US, including the 25% duties levied as punitive damages for buying cheaper Russian crude. The current 50% tariffs by Donald Trump on India threaten $45 billion worth of India's exports.

Amid higher tariffs, India's products might lose competitiveness, potentially benefiting countries like China and Vietnam, as tariffs imposed on India are higher than those on other Asian countries such as China (30%), Vietnam (20%), Indonesia (19%), and Japan (15%).

The tariffs are likely to shave off 60-80 basis points from India's GDP growth if they stay in place for a year, a Reuters report, quoting economists, said.

While this does not bode well for the fourth-largest eco...