NEW DELHI, August 27. /TASS/. Indian exports to the United States are forecast to decline by 43% because of 50-percent tariffs set on the goods from the country by the Washington administration, analysts of the GTRI research center says.
Authors of the research predict Indian exports will plummet from $86.5 bln in the financial year of 2025 (ending on March 31, 2026) and to $49.6 bln in the financial year of 2026.
The analytical center calculated that although 30% of exports worth $27.6 bln will not be covered by tariffs and 4%, mainly auto parts, will be under 25% tariffs, the remaining part or 66% worth $60.2 bln will face the full tariff charge of 50%, including apparel, textile, gems and jewelry, shrimps, carpets and furniture.
Exports from these sectors may fell by 70% to $18.6 bln, leading to the overall contraction of deliveries to the US by 43% and threatening hundreds of thousands of jobs, analysts cautioned.
Actions of the US are a serious challenge for the Indian economy, GTRI added.
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