Geoffrey Dennis, Independent Emerging Markets Commentator, said he “wouldn’t be surprised if the deal goes through in the next 1-2 months,” as India and the US continue discussions on lowering the 50% tariff.

“India does not want to open up fully to US exports,” he said, adding that agriculture and tariffs on certain sectors remain hurdles.

Market participants are watching the expected effective tariff rate closely. Anything between 16-18% is seen as workable, while levels above 20% may disadvantage Indian exporters, he added.

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On US markets and the recent decline in the NASDAQ, Dennis said the move looks more like a short-term adjustment. He noted that AI-linked companies are still supporte

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