Punitive US tariffs can hurt exports by 3-3.5% or 50 bps of GDP, says SBI Research

Though no clarity is available on how much incremental reciprocal tariffs that the US could slap on Indian goods, an SBI Research report has said that "in a highly unlikely event" of "a flat 20% additional tariff on all goods," leaving Indian shores to the US ports would eat up half a percentage of the GDP next fiscal.

- BENN KOCHUVEEDAN @ Mumbai

With 17.7% of all Indian exports headed to the American shores, the US was the largest trading partner for India in FY24. In fact, the share of India's exports to the US has been steadily rising over the years, the report said, citing RBI data.