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Trump to raise tariffs on Indian semiconductors, pharmaceuticals
US President Donald Trump is cranking up tariffs on Indian pharmaceuticals and semiconductors, citing frustration over India's ongoing imports of Russian oil.
The current 25% tariff will go up "very substantially," putting extra pressure on Indian exporters.
Auto sector could be hit hard
This move lands hard on India's export economy, especially the auto sector, which depends heavily on imported semiconductors for things like EVs and smart car tech.
Companies like Tata Motors and Bharat Forge could see costs rise and supplies disrupted.
With electric vehicles needing even more chips than regular cars, the new tariffs could make it tougher for Indian firms to compete in the US market.