New Delhi, March 26 -- With the possibility of broad reciprocal tariffs from the US gaining traction ahead of April 2, 2025, India's export landscape faces significant uncertainty. A report by Madhavi Arora, Lead Economist at Emkay Global Financial Services Ltd., estimates that India could lose approximately $6 billion in exports (0.16% of GDP) under a 10% tariff scenario, with potential losses soaring to $31 billion if tariffs hit 25%.

While the exact nature of tariff implementation remains unclear, a broad country-level tariff appears to be the most likely scenario, posing risks to several Indian industries.

Electronics, particularly mobile phones, form India's largest export category to the US, with shipments worth $11.1 billion in F...