Jefferies:
Says 50% tariff risks most of India’s $87bn US exports; compares impact to a trade embargo.
Morgan Stanley:
Estimates 80bps GDP hit; expects two rate cuts by RBI and more government spending.
Goldman Sachs:
Sees total GDP drag of 0.6pp but hopeful of a deal within three weeks.
Nomura:
Warns of sudden export halt; says low-margin sectors like textiles, jewellery will suffer most.
Emkay Global:
Predicts export crash, job losses, FPI selling; sees short-term pain, long-term resilience.
SBI Securities:
Calls it Trump’s negotiation tactic; expects eventual compromise.