New Delhi, Aug. 1 -- As India faces potential trade headwinds that could impact its USD 87 billion exports to the United States, the country must accelerate market diversification and leverage its strengths in services to maintain economic momentum, according to former Labour Secretary Sumita Dawra.

On Wednesday, President Donald Trump announced the imposition of 25 per cent tariffs on Indian goods and an unspecified 'penalty', even as there were hopes of an interim India-US trade deal before August 1 deadline -- which would have otherwise helped avoid elevated tariffs. Commerce and Industry Minister Piyush Goyal made a statement in both houses of the Parliament, stating that the government is examining the impact of tariffs and will tak...