What’s Happening
The United States has started imposing 50% tariffs on several Indian goods. This move is linked to trade tensions and concerns over India’s oil imports from Russia. The decision will hit many industries that depend heavily on the American market.
Sectors Hit the Hardest
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Textiles and garments – A big export to the U.S., now facing steep costs.
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Diamonds and jewellery – Surat’s diamond industry is especially vulnerable.
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Seafood, carpets, furniture, and chemicals – Many of these rely on U.S. buyers.
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Solar modules – Almost all exports in this category go to America.
These industries could see exports fall sharply, putting jobs and revenues at risk.
Sectors That Stay Safe (for now)
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Pharmaceuticals – No new tariffs.
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Smartphones – Exempt from the hike.
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Energy products and renewables – Left out of the tariff list.
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Auto parts – Passenger vehicle parts taxed less heavily than commercial ones.
Immediate Impact
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Exporters rushed to send shipments before the tariffs kicked in.
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The rupee weakened and markets reacted negatively.
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In places like Surat and textile hubs, businesses are already reporting lost orders.