13
Aug
New Delhi: Indian exporters are bracing for a sharp earnings decline after the United States announced a steep 50 per cent tariff on imports from India, Crisil Ratings reported. The move adds a fresh 25 per cent penalty, effective August 27, to the 25 per cent reciprocal tariff already in place.The penalty is tied to India’s continued crude oil purchases from Russia and is expected to make Indian goods less competitive in the American market compared to most Asian rivals, except China. High-value sectors including diamonds, shrimp, home textiles, carpets, and ready-made garments are set to take the brunt of…