By Rishika Sadam HYDERABAD, India/GUAYAQUIL, Ecuador (Reuters) -On India's southern coast, V. Srinivas thrived for two decades by farming shrimp, as the country became the top supplier of the delicacy to the United States.

U.S. President Donald Trump has announced additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.

India would not accept any compromise when it comes to the interests of its farmers, cattle-rearers and fishermen, Prime Minister Narendra Modi said Friday as the country wrestles with steep tariffs imposed by the US following breakdown of trade talks.

Move reflects India’s desire to insulate itself from foreign currency fluctuations and could reduce country’s reliance on US dollar, analysts say.

Mumbai: US broking firm Jefferies has recommended its clients to purchase Indian stocks rather than sell them, as US President Donald Trump’s tariff policies are bound to take a U-turn, a

US Treasury Secretary Scott Bessent claimed some of the “richest families in India” benefited from the purchase of Russian crude oil, while reiterating plans to boost tariffs on the South Asian nation.

Apple is manufacturing all four of its iPhone 17 models in India ahead of next month's launch, according to Bloomberg. That marks a first for the company, as it tries to mitigate the effects of President Trump's tariffs on products produced in China.

India’s economic outlook could be set for a major shift, with three key developments — the recent S&P credit rating upgrade, a major revamp of the GST structure and changing US trade tariffs — likely to play a crucial role in shaping the country’s growth path,