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Mumbai:
The Indian stock market has came out as the first in the world to completely eliminate all losses triggered by Donald Trump's reciprocal tariff announcement. The stock market in Mumbai, India's financial hub, experienced a major rally today as trading resumed after a big weekend, with Monday being a holiday for Ambedkar Jayanti.
The National Stock Exchange (NSE) Nifty 50 index climbed by as much as 2.4 percent during today's trading session in Mumbai, restoring the index to levels seen on April 2, the day President Trump signed the executive order on tariffs.
Those reciprocal tariffs are contemporarily on "pause" for all nations except China—the primary adversary of the US. A confrontation between the 2 largest economies & major manufacturers tends to make global markets brace for impact.
India's manufacturing sector is also growing very fast, and the country is increasingly viewed as an alternative manufacturing hub to China. While Beijing has replied with retaliatory measures & opted for a trade conflict with Washington, New Delhi has taken a much more conciliatory approach. India and the USA are in advanced discussions for a 'win-win' trade deal—a move seen globally as a more adaptive and flexible stance compared to China.