U.S. President Donald Trump's threat to impose reciprocal tariffs from early April is feeding anxiety in India's export sectors from autos to agriculture, with Citi Research analysts estimating potential losses at about $7 billion a year.

While officials are still waiting for details on how these tariffs will be calculated, they are already preparing countermeasures and working on a trade deal proposal to reduce tariffs and boost two-way trade.

United States President Donald Trump has threatened to impose reciprocal tariffs from April and this is making India's export sector anxious and Citi Research analysts are estimating potential losses worth $7 billion per year.

Shares of Indian pharmaceutical companies slid 2% on Wednesday after U.S. President Donald Trump said he intends to impose tariffs of about 25% or higher on pharma imports.

SBI Research, in a report, estimated the minimal impact of US tariffs on Indian goods and services only if the nation diversifies its export relation structure. India exports over 17% of goods and services out of its total exports to the US,