US tariff heat: Fitch says Indian firms face limited direct hit; pharma sector seen at risk if duties widen

India-based corporates have limited direct exposure to US tariffs, but sectors such as pharmaceuticals that are currently unaffected could face risks if Washington announces further measures, Fitch Ratings has cautioned.The US has imposed a 25% “reciprocal” tariff on Indian goods from August 7, 2025, and […]