Major US retailers, including Amazon, Walmart, Target, and Gap, have suspended new orders from India following the imposition of a 50% tariff on Indian goods by President Donald Trump. This decision is expected to severely impact the Indian economy, as the US is India’s largest market. The tariff hike is projected to affect approximately 55% of Indian exports to the US, potentially leading to a 40-50% drop in US-bound orders. This could result in a loss of $4-5 billion in export revenue. Exporters have received notifications from US buyers to halt apparel and textile shipments due to the cost burden, which the buyers are unwilling to bear. Key exporters, such as Welspun Living, Gokaldas Exports, Indo Count, and Trident, are heavily reliant on the US market, with a significant portion of their sales originating there.
