Donald Trump: Trump's tariff blow: How much damage will India suffer?

US President Donald Trump is going to impose reciprocal tariffs from April 2. India is also on the list of countries that will be subject to tariffs, which has already increased tensions in India. However, research and investment firm MK Global has revealed the impact of US tariffs on India. If the US imposes a 10% tariff, India could lose about $6 billion, or 0.16% of its GDP, the firm's report said.
The sectors that will be affected are..

The report said that if the tariff increases to 25 percent, the impact will be much greater. Due to this, India could lose up to $31 billion in American exports . According to the report, key sectors like auto, pharma, and electronics could see losses. Along with this, Trump's tariff will also have a major impact on markets like textiles and gems/jewelry.

India's talks with the US
Emkay Global believes that India can limit the impact of reciprocal tariffs by increasing energy imports (crude oil, natural gas) from the US, increasing defense purchases and cooperation, reducing tariffs on some agricultural/food items, and foreign electric vehicles. However, India should negotiate with the US to reduce tariffs in some key areas, which will not harm the domestic industry.
Auto tariffs causing panic
Trump recently announced a 25% tariff on vehicles and auto parts from abroad. The US imports about $300 billion worth of auto parts from many countries, including India. A wide range of products, including engine parts, transmission parts, and electrical systems, are exported from India to the US.