The latest 25-per cent US tariff on India is likely to lower the latter’s growth by 0.30 percentage point (pp) over a year, according to a recent HSBC report.
The growth drag may rise to 0.7 pp with a 50-per cent tariff, it noted.
Many of the affected export items, including textiles, are manufactured in labour-intensive small firms, and therefore, disruptions will impact domestic consumption, it added.
The growth drag may rise to 0.7 pp with a 50-per cent tariff, it noted.
Many of the affected export items, including textiles, are manufactured in labour-intensive small firms, and therefore, disruptions will impact domestic consumption, it added.
