在全球贸易不确定的情况下，印度经济在2025年7月保持稳定。财政部的《月度经济评论》指出，强劲的国内需求和稳健的宏观经济基本面继续支持增长，同时警告称，国外保护主义趋势的加剧开始对印度的贸易前景造成压力。报告指出，全球贸易已经开始感受到更高关税和政策不确定性的影响，这抑制了商业情绪。7月份贸易政策不确定性指数上涨17%，反映出企业和投资者日益增长的担忧。印度7月份商品和服务出口同比增长4.5%，进口增长6.1%，贸易逆差从一年前的101亿美元扩大到117亿美元。财政部警告称，虽然美国关税对印度出口的直接影响似乎有限，但需要解决延迟效应，因为它们可能会对贸易和整体经济增长造成压力。

India's economy remained stable in July 2025, amid global trade uncertainty. The Finance Ministry's Monthly Economic Review indicated that strong domestic demand and sound macroeconomic fundamentals continued to support growth, while warning that rising protectionist trends abroad were beginning to weigh on India’s trade outlook. The report noted that global trade had already started to feel the effects of higher tariffs and policy uncertainty, which were dampening business sentiment. The Trade Policy Uncertainty Index rose 17% in July, reflecting growing concern among firms and investors. India’s exports of goods and services rose 4.5% yoy in July, while imports climbed 6.1%, widening the trade deficit to USD 11.7 billion—up from USD 10.1 billion a year earlier. The Finance Ministry cautioned that while the immediate impact of US tariffs on Indian exports appears limited, the delayed effects need to be addressed, as they could weigh on both trade and overall economic growth.

美联储的库克准备提起诉讼，印度关税生效，市场平静。亚洲时段货币市场基本低迷，尽管股市出现一些波动，但主要货币市场仍保持窄幅波动。美国股市试图在一夜之间反弹，但势头疲软，而亚洲股市交易疲软。

Fed's Cook Prepares Lawsuit, India Tariffs Kick in, Markets Quiet.Currency markets were largely subdued in Asian session, with majors holding tight ranges despite some volatility in equities. U.S. stocks attempted a rebound overnight but momentum was weak, while Asian bourses traded softer.

印度政府估计，美国新征收的50%关税将影响价值482亿美元的出口。官员们警告说，额外的关税可能会使运往美国的货物在商业上不可行，从而可能导致失业和经济增长放缓。为了减轻影响，政府正在制定一项多管齐下的战略，包括旨在提振国内需求的商品及服务税（GST）改革。自周三（8月27日）起生效的50%关税预计将对纺织品、虾、皮革、宝石和珠宝的出口造成最严重的打击。美国占印度海鲜出口的近40%，这使得该行业，尤其是虾，特别容易受到影响。药品、电子产品和石油产品仍然免征新关税。据《经济时报》报道，印度在2025财年向美国出口了价值860亿美元的商品。

The Indian government estimates that the newly imposed 50% US tariff will affect exports worth USD 48.2 billion. Officials have warned that the additional duties could make shipments to the US commercially unviable, potentially leading to job losses and slower economic growth. To soften the impact, the government is working on a multi-pronged strategy, including Goods and Services Tax (GST) reforms aimed at boosting domestic demand. The 50% tariff, effective from Wednesday (August 27), is expected to hit exports of textiles, shrimp, leather, and gems and jewellery the hardest. The US accounts for nearly 40% of India’s seafood exports, making the sector—especially shrimp—particularly vulnerable. Pharmaceuticals, electronics, and petroleum products remain exempt from the new duties. According to The Economic Times, India exported goods worth USD 86 billion to the US in FY2025.

美国政府对印度加征双倍关税生效。这里25%的惩罚性关税是在之前对许多印度产品征收的25%关税之上的，这是特朗普对印度购买俄罗斯石油这一事实的蔑视的一部分。这意味着服装、宝石、鞋类、家具和化学品等商品将被征收50%的关税。

US administration's doubling of tariffs against India takes effect.The 25% punitive tariffs here stacks on top of the previous 25% tariffs on many Indian products, as part of Trump's disdain towards the fact that India moved to purchase Russian oil. This means that goods such as garments, gems, footwear, furniture, and chemicals will be slapped with 50% tariffs.