Overall trade in goods between India and the U.S. last year amounted to about $129 billion, the Office of the U.S. Trade Representative, or OTR, found. Top imports from India include apparel, chemicals, machinery and agricultural products.

India shouldn't trade its future for short-term calm. Trump's tariff move is more noise than policy. Staying firm now will protect India's strength and choices in the long run.

The India-US trade deal faces significant challenges after Trump's tariffs, which could impact Indian exports by $33 billion