Why Rashesh Shah of Edelweiss feels India will shrug off US tariff blues

Yet, even this may be posturing. Shah reads the tariff noise as part of a familiar pattern. “Threats are part of the negotiation playbook. This could be an added pressure tactic, because the India deal will be important for him and the fact that he has given so much importance to the India deal and he wanted the deal to be done by 31st of July,” says Shah. In that light, the hardline approach may be less about punishing India and more about speeding up dealmaking. “Now, anything we negotiate will only be an improvement on the current situation,” Shah adds.

Not All Sectors Vulnerable

According to Shah, the sectors feeling the pinch today are largely manufacturing-based. But India’s dominant export engines—IT and pharma—face a different set of challenges, and tariffs may not be their biggest threat.