New Delhi/Mumbai, June 3 -- Indian exporters of apparel, automotive parts, pharmaceuticals and tyres - with significant shipments to the US - are preparing contingency plans or revising their business strategies to mitigate the business risk from the imposition of tariffs.

US President Donald Trump's administration has imposed a 10% universal tariff on all imports from every country, including India.

Gokaldas Exports Ltd, a listed garments exporter, will focus on expanding its business in Europe because tariffs have hurt business with its main export market - the US.

"Since there is a lot of tariff uncertainty, we are pivoting to Europe. The idea is not to reduce our US business in absolute terms, but for incremental business we will f...