भारत पर ट्रम्प टैरिफ: कौन से देश भारत के दर्द से लाभान्वित होते हैं? व्याख्या की

Trump tariffs on India: The additional 25% tariffs imposed on India by the US for purchases of Russian oil came into effect earlier this week, essentially doubling the duty on Indian exports to 50%.

Sectors like textiles, gems and jewellery, seafood, chemicals and steel, aluminium and copper will face the biggest brunt of tariffs imposed by US President Donald Trump, while pharmaceuticals and smartphones are relatively insulated due to exemptions.

According to a report by SBI Research, $45 billion worth of exports will be impacted due to 50% tariffs. The effect of these is already visible in the Indian stock market, with investors churning portfolios to more domestic-oriented companies and away from export-oriented stocks.

The Indian stock market traded on a muted note on Friday, August 29, following a massive selloff on Tuesday and Thursday. Wednesday was a stock market holiday in India.

However, India's pain is expected to spell gains for other countries enjoying lower tariff penalties from the US.

imposed on India is also higher than that on other Asian countries such as China (30%), Vietnam (20%), Indonesia (19%), and Japan (15%), SBI Research noted.

However, with tariffs rising to a massive 50%, countries like Bangladesh, Vietnam, China and Japan could gain India's market share.

Vinit Bolinjkar, Head of Research at Ventura, said that well-established in textiles and garments, Bangladesh is poised to strengthen its foothold in the American market as buyers seek alternatives to India.

Additionally, he sees some gains for countries like Vietnam and Indonesia.

shipments. With US tariffs rising from 25% to 50%, exporters are bracing for significant disruption, said SBI Research.

It opined that with 50% tariffs on India, countries like Switzerland may benefit as the tariff there is 39%.

"Facing only ~15% US tariffs, Ecuador becomes an attractive alternative for seafood buyers compared to India, which now faces duties up to 60% on shrimp exports," said Bolinjkar.

"Leveraging its USMCA advantage and proximity to the US, Mexico could emerge as a key substitute supplier in automotive components, agro-products, and industrial goods," Ventura analyst opined.

"While these countries may gain in the short to medium term, the long-term trajectory will depend on how Indian exporters adapt, whether by diversifying into new geographies, moving up the value chain, or exploring re-routing strategies," said Bolinjar.

Ashwini Shami – President and Chief Portfolio Manager, OmniScience Capital, said that he sees significantly more headwinds for the US economy than the Indian economy, as 30-35% tariffs are imposed on Canada, Mexico and China, the largest exporters to the US, accounting for more than $1.3 trillion of imports.

Meanwhile, the recent GST rates overhaul and the cuts in income taxes are expected to boost the domestic demand and could provide a bigger domestic market to the exporters and mitigate loss of revenue from exports, Shami opined.

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.