India, Aug. 31 -- Prime Minister Narendra Modi's chief economic advisor, V Anantha Nageswaran, believes US President Donald Trump's 50 percent tariff on Indian goods can be offset by a strong domestic demand and rising rural consumption.

According to Nageswaran, the job losses due to the impact of US tariffs will be largely confined to export-oriented units that are heavily dependent on the American market.

"There will be offsetting effects also. Yes, job loss will be contained to those export-oriented units that are very highly exposed to the United States. Second, some of them will be able to find alternative markets, and some of them may also decide to take a medium to long-term view that if the ongoing uncertainties related to the t...