GIFT Nifty falls over 200 points after Trump imposes tariffs
GIFT Nifty, which tracks India's stock market from GIFT City, fell over 200 points on Wednesday.
The drop happened following US President Trump doubling tariffs on Indian goods like textiles, cars, and jewelry—mainly because India kept buying Russian oil despite Western sanctions.
GIFT Nifty is often seen as a key signal
This tariff hike could potentially make it tougher for Indian companies to compete in the US, and that might have spooked global investors.
GIFT Nifty is often seen as a key signal of how international players feel about Indian stocks—so when it drops sharply, it's worth paying attention.
The new tariffs kick in August 27
The new tariffs kick in August 27 and skip over pharma and semiconductors.
The US says they might tweak the rules again depending on how India cooperates with American economic goals—showing just how tense trade ties are getting between the two countries.