New Delhi, Aug. 12 -- India's diamond polishing, shrimp, home textile, and carpet industries are likely to see their revenues hit harder by the United States' latest tariff hike, making exports to America unviable for many Indian companies, Crisil Ratings said.
The US has imposed a 25% tariff on Indian goods as a penalty for importing crude oil from Russia, effective 27 August, in addition to the existing 25% reciprocal tariff.
The impact of these tariffs will vary across sectors, depending on their US market exposure, ability to pass on costs, and competitive position relative to other exporting countries, Crisil said in a credit alert.
The rating agency also warned of a possible "second-order effect" from a slowdown in US demand and ...
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