India’s largest shoemaker Farida Group had already staked out the land — a 150-acre plot in southern Tamil Nadu — for a sprawling new export facility. Then came the blow from Washington: President Donald Trump announced he was doubling tariffs on Indian exports to 50%.

Trump, who has previously denounced India as a “tariff king”, blamed New Delhi’s purchases of Russian weapons and oil for the additional rate, which puts at risk India’s largest export market, worth $87bn in the year to the end of March.

NEW DELHI/MUMBAI (Reuters) -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,