India reels from US tariff hike threat


India's gems and jewellery industry exported goods worth more than US$10 billion last year and employs hundreds of thousands of people. - AFP

MUMBAI: Indian exporters are scrambling for options to mitigate the fallout of US President Donald Trump's threatened tariff salvo against the world's most populous nation.

Many warn of dire job losses after Trump said he would double new import tariffs from 25 per cent to 50 per cent if India continues to buy Russian oil, in a bid to strip Moscow of revenue for its military offensive in Ukraine.

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India , tariffs , US , exporters

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