US President Donald Trump's decision to impose 25% tariffs on Indian goods, along with an unspecified penalty for buying Russian oil and weapons, threatens to significantly impact India's economic growth and exports. This move comes despite ongoing trade negotiations between the two countries.

• Economists at Icra and Nomura predict a potential hit to India's GDP, with Nomura forecasting a 0.2% reduction.
• The tariffs could specifically affect key Indian sectors such as marine products, pharmaceuticals, textiles, leather, and automobiles.
• India's Commerce Ministry is studying the implications, while both sides aim to continue negotiations for a comprehensive trade deal by the fall deadline, with US officials expected in India next month.