Trump's tariff hike could shave 0.3 pp off India's GDP: Goldman Sachs

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India’s economy could take an additional 0.3 percentage point (pp) annualised hit to real gross domestic product (GDP) growth following US President Donald Trump’s decision to impose a fresh 25 per cent duty on Indian imports, Goldman Sachs said. This is over and above the 0.3 pp impact previously estimated from the April 2025 tariff round.     According to Goldman Sachs, once exclusions, such as those under Section 232 of the US Trade Expansion Act, 1962, are applied, the effective average tariff rate on Indian exports to the US will settle at around 32 per cent.    

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Stock Market LIVE Updates: National Securities Depository Limited (NSDL) shares hit a new high of ₹997.65, as they rallied 7 per cent on the BSE in Thursday’s intra-day trade in an otherwise weak market. NSDL made a strong listing as the stock rose 17 per cent on its debut day on the BSE on Wednesday. The stock price of NSDL has zoomed 25 per cent against its issue price of ₹800 per share.