NEW DELHI: The US tariff on Indian exports could impact several key sectors, including agriculture, energy, textiles, electronics, and gems & jewellery. Electronics, pharmaceuticals, and gems & jewellery are among the top Indian exports to the US. If the pharmaceutical sector, which had so far remained exempt, is brought under the ambit of the tariff, it could deal a severe blow to the industry.The lack of clarity on the ‘Russia penalty’ leaves Indian exporters and US importers unable to calculate landed costs or plan supply chains effectively. India has recently emerged as a major supplier of Apple iPhones to the US, accounting for 44% of all smartphones imported into the country. The tariff could, therefore, be a major setback for India’s fast-growing mobile manufacturing sector.
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