India hopes trade talks with the U.S. will continue even as the U.S. hiked tariffs on its exports to 50% due to New Delhi's purchase of sanctioned Russian oil, two lawmakers said on Monday, citing a briefing to a parliamentary panel on foreign affairs.

Crisil warns that new US tariffs on Indian goods, due to Russian oil purchases, could make exports unviable, impacting key sectors.

According to the finance ministry, the impact of the US’ tariffs on India’s exports will depend on a combination of different factors such as product differentiation, demand, quality, and contractual arrangements.