New Delhi, Aug. 29 -- 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 sto...