The economic consequences of President Donald Trump’s 50% tariff on Indian goods are already being felt, as major US retailers like Amazon, Walmart, Target, and Gap have stopped placing new orders from India. This move is expected to negatively affect India’s economy, especially considering the US is a primary market for Indian exports. The tariff hike is likely to impact nearly 55% of these exports, potentially resulting in a 40-50% decrease in US-bound orders and an estimated $4-5 billion loss in export revenue. Exporters have received communications from US buyers to suspend apparel and textile shipments, as the buyers are unwilling to cover the increased costs. Leading exporters such as Welspun Living, Gokaldas Exports, Indo Count, and Trident, which have a significant presence in the US market, are likely to experience the most immediate impact.
