US President Donald Trump’s additional tariffs on India will further damage the South Asian nation’s already slowing economy and shrink its gross domestic product by as much as a percentage point, analysts said.

UBS’ Tanvee Gupta Jain says that India could lose $30-35 billion in US exports if no deal is reached, with agriculture and dairy seen as sticking points.

US President Donald Trump recently announced an additional 25 per cent tariffs on Indian imports, citing New Delhi's continued purchase of Russian oil. CA Nitin Kaushik said in his social media post that instead of impacting India,