India says secondary, tertiary impact of US tariffs pose challenges

NEW DELHI, Aug 27 (Reuters) - The immediate impact of U.S. tariffs on Indian exports appears limited but their secondary and tertiary effects on the economy pose challenges, India's finance ministry said in its July monthly economic review, released on Wednesday.

The South Asian nation is pursuing a diversified trade strategy to sustain its trade performance, but these initiatives will take time and may not fully address the shortfall that will arise in exports if current tariff rates persist, it said.