Since Wednesday, tariffs on Indian goods bound for the US, like diamonds and shrimp, now stand at 50% – which the US president says is punishment for Delhi's continued purchase of Russian oil. Experts say the levies threaten to leave lasting bruises on India's vibrant export sector, and its ambitious growth targets.

India has successfully test-fired an indigenously developed intermediate-range ballistic missile capable of carrying a nuclear warhead deep into the territory of its geopolitical rival, China, just as Prime Minister Narendra Modi prepares for his first visit there in years.