00:00India is bracing for a sharp blow to its overseas trade as steep US tariffs take effect on a range of Indian products.
00:10US President Donald Trump had initially announced a 25% tariff on Indian goods,
00:16but imposed an additional 25% earlier this month due to India's purchases of Russian oil,
00:22bringing the combined tariffs to 50%.
00:26Officials have warned the new duties could make shipments to the US commercially unviable,
00:31triggering job losses and slower economic growth.
00:35Labour-intensive sectors such as textiles, gems and jewellery, leather goods, food and automobiles will likely be the most impacted.
00:44The government has begun working on reforms to boost local consumption and insulate the economy.
00:50The trade ministry is also weighing steps to expand exports to other regions,
00:55particularly Latin America, Africa and Southeast Asia.
00:59Trade negotiations underway with the European Union could gain renewed urgency
01:04as India works to reduce its dependence on the US market.
01:09african Whitewares
01:24african Blue
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