In keeping with the turmoil in global markets following President Donald Trump's tariff decisions, the US markets also witnessed a bloodbath as they opened on Monday morning.
Amid the turmoil in stock markets and countries making adjustments because of US reciprocal tariffs, Congress leader Rahul Gandhi on Monday said that US President Donald Trump "has blown the lid off the illusion" and India has to build a resilient, production-based economy.
Indian stocks witnessed a bloodbath as the new week kicked off, triggered by the Trump reciprocal tariffs. These tariffs have set off a sell-off in equities globally, and India was no exception.
Sachin Jain, Regional CEO India at World Gold Council (WGC), said the fundamentals of gold as an asset class are "very strong" and will continue to be "very strong" throughout the year. The latest correction was on expected lines post the imposition of Trump's reciprocal tariffs.
India could see a decline of USD 5.76 billion or 6.41 per cent in exports to the United States (US) because of the tariffs, in 2025 says a research report by the Global Trade Research Initiative (GTRI).
As global markets continue to see a sharp decline, several economists are urging the Reserve Bank of India (RBI) to take stronger steps in its upcoming monetary policy meeting.
Kevin Hassett, Director of the White House Economic Council, defended the impact of President Donald Trump's tariffs on Sunday (local time) and said that while many countries are upset and retaliating, the tariffs have led to over 50 countries reaching out to the US to begin new trade negoti
India has the upper hand amidst the reciprocal tariffs imposed by the Trump administration, said Ashishkumar Chauhan, Managing Director and CEO of National Stock Exchange, backing his argument, stating the duties slapped on India were less than others.
Reciprocal tariffs imposed by the US significantly raise risks for a recession in the US and constrain the US Federal Reserve's ability to lower interest rates further, Fitch Ratings said in a note.
The imposition of high reciprocal tariffs by the US on other competing nations raises the possibility of increased dumping by those nations in India, as well as in other export markets, which could negatively impact certain sectors, CareEdge Ratings said in a report.
After a volatile week post the announcement of reciprocal tariffs by the Trump administration, Indian stock indices are set to take cues from the upcoming monetary policy review meeting (April 7-9), followed by the scheduled release of domestic inflation data.
Thousands of protesters on Saturday (local time) gathered across the United States to voice their opposition to President Donald Trump's policies, including tariffs, with demonstrations organised in all 50 states as well as in neighbouring Canada and Mexico.