New Delhi, Aug. 21 -- India is staring down a crisis that could unravel years of export-led growth and shred millions of jobs. On August 27, U.S. President Donald Trump's punitive tariff regime-already a 25 percent burden on Indian exports-is set to double.
The move threatens not only India's traditional trade engines such as textiles, auto components, and jewelry, but also high-growth sectors like pharmaceuticals and electronics that had begun to anchor New Delhi's aspirations of becoming a global manufacturing hub.
For businesses that operate on razor-thin margins, the shock is existential. In Gurugram, the beating heart of India's automotive supply chain, hundreds of small and medium enterprises face the prospect of mass closures.
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