US tariffs to hit textiles, gems, MSMEs hard; GDP growth forecast cut to 6%: Nomura

Nomura warns that India’s economy is at risk due to high US tariffs. Export sectors like textiles and gems may suffer. Around 30-40% of India’s exports are exposed to the tariff hike. Aurodeep Nandi forecasts a cut in India’s FY26 GDP growth. MSMEs are at greater risk. RBI may cut rates to ease the impact.

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