India’s export engine has hit a sudden and punishing slowdown. The latest figures show a steep decline in shipments to the United States, triggered by the new 50 per cent tariff regime imposed by Washington. This unprecedented escalation, which includes an additional 25 per cent penalty for India’s continued purchase of Russian oil, has shaken the very foundation of one of the world’s most dynamic trade partnerships. For decades, Indian exports to the US have represented a symbol of economic interdependence ~ garments, gems, shrimp, and engineering goods that built livelihoods across India’s manufacturing belts. That relationship is now showing strain.

In the four months since the new tariffs took effect, India’s exports to its largest market have fallen by almost 40 per cent. The hardest hit are precisely those sectors that employ millions ~ textiles, jewellery, engineering goods, and chemicals. What began as a diplomatic........

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