US tariffs on Indian goods could slow GDP growth: Report
Starting August 1, the US is bumping up tariffs on Indian goods to a hefty 20.6% in trade-weighted terms.
Barclays says this could trim India's GDP growth by about 0.3%, but strong local demand should keep things steady overall.
Electronics, gems, pharma to feel the pinch most
Electronics, gems, pharma, textiles, and processed foods are set to feel the pinch most.
While India's own tariffs on US goods are lower at 11.6%, ongoing trade talks could ease things a bit for both sides.
Still, big names like RBI and IMF expect India's economy to grow a healthy 6.4-6.7% this fiscal year.
India is negotiating new trade deals amid tariff storm
With US sanctions on Russian oil in play, India is mixing up its energy sources and negotiating new trade deals with the US and Europe.
The tariff news did send the rupee sliding for now—but some analysts think it's just temporary turbulence for an otherwise resilient economy.
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