The proposed US tariffs on India will have a "manageable" impact on India's economy, affecting just 0.19 per cent of the country's GDP, industry leaders projected on Wednesday. The tariff will affect exports to the US worth approximately $8.

According to PHDCCI President Hemant Jain, the tariff burden amounts to just 1.87% of India’s total global merchandise exports and would dent the country’s GDP by only 0.19%.

India expects to lose a competitive advantage in about $64 billion worth of goods exported to the U.S. due to President Donald Trump's 25% tariff and an assumed 10% penalty for buying Russian oil, four sources told Reuters citing an internal assessment report by the government.