India, Aug. 28 -- Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
The Global Trade Research Initiative (GTRI), a New Delhi-based think tank, said that textiles, gems, jewelry, shrimp and carpets would be worst affected, with the sectors bracing for a 70 percent collapse in exports, endangering hundreds of thousands of jobs.
Meanwhile, media reports quoted a senior government official as saying that India may consider relaxing certain FDI restrictions on Chinese investments amidst improving bilateral relations.
"If need be, we can take a relook at Press Note 3," the o...