By Rishika Sadam HYDERABAD, India/GUAYAQUIL, Ecuador (Reuters) -On India's southern coast, V. Srinivas thrived for two decades by farming shrimp, as the country became the top supplier of the delicacy to the United States.

Reciprocal tariff at the rate of 25 per cent has been imposed on certain goods exported from India to the US, starting from August 7.

Despite tariff disruptions, India's smartphone exports grew leaps and bounds. In the first four months of the financial year 2026 (April to July), smartphone exports hit the $10 billion mark, a giant 52 per cent hike from $6.

India has recommended a three-year import tariff of 11%-12% on some steel products to curb shipments from top producer China. The levy, if imposed, will start at 12%. It will be eased to 11.5% in the second year and to 11% in the third year,

India has temporarily waived cotton import duties from Aug 19 to Sept 30 to support garment exporters facing a steep 50 per cent tariff from the United States.

India has stepped up purchases of discounted Russian crude since the onset of the Ukraine war, straining relations with Washington.

Prime Minister Narendra Modi, in a tweet on Monday, thanked Russian President Vladimir Putin for calling him up and sharing insights on his meeting with US President Donald Trump. Both the leaders met in Alaska on August 15.

Bollywood actor John Abraham, currently basking in the success of his streaming film Tehran, has weighed in on a pressing international economic issue, the heavy tariffs imposed by former US President Donald Trump on India.

In an insightful conversation with Firstpost’s , American economist Prof. Jeffrey D Sachs shares his take on the Trump tariffs on India and elucidates how New Delhi should navigate the rough waters.