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Effective August 1, the United States will impose a 25 percent tariff on goods imported from India. Subhash Goyal, Chairman of the Aviation and Tourism Expert Committee of the Indian Chamber of Commerce, stated in an interview that this move marks a "very sad day for Indian exports." He warned that the new tariffs would inevitably dampen India's export growth and trigger a ripple effect across traditional pillar industries and the pharmaceutical sector. Goyal noted that given India's excessive dependence on the U.S. market at this stage, it has become imperative that the country explore new markets in Asia and Europe.