Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, Tata Consultancy Services, Nestle and Maruti were also among the major laggards. HDFC Bank emerged as the only gainer from the pack.
Seafood is one of India's largest agricultural exports after basmati rice and buffalo meat.
Trump on February 1 had announced tariffs on major US trading partners Canada, Mexico and China. He imposed a 25 per cent tariff on Canadian and Mexican imports and a 10 per cent on goods from China.
Moody's Ratings on Tuesday said tax cuts in the current fiscal has dented India's revenue growth, leaving less scope for fiscal policy support for the economy.
Shares of tyre manufacturers have outperformed broader equity benchmarks, buoyed by multiple tailwinds. Softer raw material prices, an uptick in demand from automakers following the reduction of the goods and services tax (GST) rates, and steady replacement demand have lifted sentiment toward the sector.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
United States President Donald Trump on Wednesday claimed that India will significantly reduce Russian oil imports by year-end, citing Prime Minister Narendra Modi's assurance.
Indian auto component exporters may suffer a hit of 2,700 crore to 4,500 crore on their earnings after the imposition of steep US tariffs on key automotive parts, credit rating agency ICRA said in a note on Monday. The new 25 per cent tariff on engines, transmission, electrical components, and other auto parts may moderate the overall auto component industry's revenue growth to 6-8 per cent in 2025-26 (FY26), down from an earlier projection of 8-10 per cent.
On the table are additional batches of S-400 surface-to-air missile systems from Russia, which India used with immense success during Operation Sindoor. India could buy at least two squadrons of Su-57 fighter jets plus joint production of S-500 air defence systems.
Here is the complete list of tariffs imposed by US President Donald Trump on Wednesday.
India's real gross domestic product (GDP) is likely to grow at 7.5 per cent in FY26 and moderate to 7 per cent in the subsequent fiscal year, a domestic rating agency said on Wednesday.
United States President Donald Trump has announced a 25 per cent tariff on imports from Canada and Mexico, as well as a 10 per cent tariff on goods from China, citing concerns over illegal immigration and the smuggling of drugs, including fentanyl.
India does not do trade agreements in a hurry or with a "gun to our head", Commerce and Industry Minister Piyush Goyal said on Friday. He said India is actively negotiating trade pacts with countries and regions, including the European Union (EU) and the US.
Two days after Russian President Vladimir Putin concluded his visit to India, during which he assured that Moscow would remain a reliable energy supplier, the Kremlin on Monday said that India, as a sovereign nation, is free to buy oil from sources it deems beneficial. It expressed confidence that New Delhi will continue to prioritise its economic interests.
From the Sensex pack, IndusInd Bank dropped over 3.50 per cent, followed by Mahindra & Mahindra which declined more than 2 per cent. HCL Tech, Maruti, Infosys, Zomato, Power Grid, Adani Ports, Tata Consultancy Services and UltraTech Cement were also among the laggards. Kotak Mahindra Bank, Hindustan Unilever, ICICI Bank, Tata Motors, Nestle and Bharti Airtel were among the gainers.
10 countries most affected by Donald Trump's tariff tantrum.
Dubai is positioning itself as a springboard for Indian companies looking to tap into fast-growing emerging markets, including Africa, banking on low tariffs, long-standing trade relations, and a shared vision for regional economic growth, said Mohammad Ali Rashid Lootah, president and chief executive officer, Dubai Chambers, at the Dubai-India Business Forum in Mumbai.
The escalating trade war between the US and China is expected to benefit Indian exporters in increasing their shipments to the American market, according to experts. Federation of Indian Export Organisations (PTI) President S C Ralhan said that imposition of higher tariffs by the US on China will shift demand towards India, which exported goods worth Rs 86 billion to the US in 2024-25.
RSS chief Mohan Bhagwat clarifies the organization's role, stating it is not a paramilitary group and aims to unite society with virtues to prevent foreign subjugation.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
A Rs 23,000-crore production-linked incentive (PLI) scheme for electronic components may boost margins and enable a broader product mix.
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
India has gained the least since Russia invaded Ukraine in February 2022 and was penalised the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war.
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
Kwatra termed India's successful launch of an American communication satellite on Wednesday as a 'very important and big day' for partnership between Washington and New Delhi, saying it caps a series of achievements in 2025 in bilateral space cooperation between the countries.
The remarks assume significance since Trump has repeatedly criticised the high tariffs charged by India and other countries on American goods.
The impact of Trump's announcement of increasing import tariffs will have negligible benefit for India not because of companies trying to shift from China to other countries or their supply chains being affected due to their Chinese operations but because of our faulty policies, explains Mudit Jain.
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
United States President Donald Trump on Thursday night announced the termination of all trade negotiations with Canada, citing an anti-tariff advertisement that used a clip of former US President Ronald Reagan.
Trump's tariffs, falling shrimp prices, and fears of additional US levies, spark a crisis in Andhra Pradesh's politically vital aquaculture sector.
From the Sensex firms, Adani Ports, Bharat Electronics, Eternal, Tata Motors Passenger Vehicles, State Bank of India and Kotak Mahindra Bank were among the biggest gainers. However, ITC, Bajaj Finance, Titan and Tech Mahindra were the laggards.
The Reserve Bank of India (RBI), in its Financial Stability Report (FSR), cautioned that stress tests indicate two scheduled commercial banks (SCBs) may have to dip into their capital conservation buffers (CCBs), unless stakeholders infuse capital, under a scenario involving a gradual slowdown in domestic GDP growth and a moderate rise in inflation, with limited policy easing space available to the central bank.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
The government on Wednesday approved two schemes worth Rs 45,000 crore to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
The rupee recovered 55 paise from its all-time low level to close at 90.38 against the US dollar after a volatile trade on Wednesday, amid suspected aggressive central bank intervention.
'In the long run, India's strong growth story and reforms to make assets globally attractive will determine the rupee's resilience.'
'Trump had done a deal with the current regime minus Maduro. The current regime is giving Trump entry into Venezuelan oil. They are obeying him and doing whatever he says.' 'They are happy because they have saved their heads by sacrificing only two, Maduro and his wife. Thousands of Venezuelan military leaders would have been jailed or killed in American action had Maduro stayed in power.'
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
In a statement, the Chinese ministry of commerce said that it would file a lawsuit with the World Trade Organisation against the US for its "wrongful practice," the Global Times reported.
