(Reuters) -Shares of Indian pharmaceutical companies slid 2% on Wednesday after U.S. President Donald Trump said he intends to impose tariffs of about 25% or higher on pharma imports. Seventeen of the 20 stocks on the sub-index traded lower,

United States President Donald Trump has threatened to impose reciprocal tariffs from April and this is making India's export sector anxious and Citi Research analysts are estimating potential losses worth $7 billion per year.

U.S. President Donald Trump's threat to impose reciprocal tariffs from early April is feeding anxiety in India's export sectors from autos to agriculture, with Citi Research analysts estimating potential losses at about $7 billion a year.

Tesla is actively recruiting for 13 positions in India, indicating a possible market entry. This move follows Prime Minister Modi’s meeting with US President Trump and the upcoming trade deal roadmap.

India's tariffs on US exports rose from 11.59% in 2018 to a peak of 15.30% in 2022. A potential 15% US retaliatory tariff could decrease Indian exports by 3%, according to SBI Research, which highlights the evolving trade dynamics between the two nations.