Trade tensions, heightened uncertainty cloud the outlook for growth: BIS
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About 55% of Indian exports to the United States are expected to take a hit from tariffs. Last week, Washington decided to slap an additional 25% duty on Indian goods to punish New Delhi over continued purchase of Russian oil. That brings the total tariff rate to 50% — the highest for any American trading partner. According to reports, India's Ministry of External Affairs told the parliamentary committee on foreign affairs that Washington's decision has forced New Delhi "into a geopolitical contest not of its making". Ishan Garg reports from New Delhi.
