India’s merchandise exports to the US are set to drop by USD 5.76 billion in 2025 due to increased US tariffs. Key sectors like electronics, seafood, and gold will be most impacted. However, India’s textiles and pharmaceuticals may see gains. The new tariffs significantly affect a broad range of goods valued at USD 67.2 billion.

India’s top billionaires, including Mukesh Ambani and Gautam Adani, faced a combined $10.3 billion hit due to a major stock market crash driven by global trade conflicts and US recession concerns.

US President Trump has initiated a 10 per cent tariff on global imports, significantly impacting trade with 180 countries. Indian exports, notably gems and jewellery, face a flat 26 per cent duty. Numerous industries worldwide, from tech giants to automotive companies, are bracing for price hikes and supply chain disruptions.

Cryptocurrencies, including Bitcoin and Ethereum, are experiencing significant declines due to heightened global risk sentiment following new US tariff announcements by President Trump. Bitcoin fell below $75,000, while Ethereum dropped 18.4%. The market cap of cryptocurrencies shrank by 8.59% to $2.44 trillion, amid fears of a potential recession and speculative interest rate cuts.

The Central government increased excise duty by Rs 2 each on petrol and diesel, with petrol duty reaching Rs 13 per litre and diesel Rs 10. Retail prices are unlikely to change as the hike will likely offset the decrease in international oil prices. New rates are effective from April 8.