President Trump imposes 25% tariff on Indian imports, triggering market fall and potential GDP loss.

US President Trump announced a 25% tariff on Indian imports, effective August 1, leading to a sharp fall in India's GIFT Nifty index by 0.70%. The tariff is seen as a response to India's trade ties with Russia and could negatively impact Indian exports, particularly in the IT, textiles, and pharmaceutical sectors. While the tariff is expected to cause short-term market volatility and a potential $3-8 billion GDP loss, officials remain optimistic about negotiations, suggesting long-term economic benefits could outweigh the initial downturn.