New Delhi has put on hold its plans to procure new U.S. weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades.

Moody's Ratings on Friday said the steep 50 per cent tariffs on Indian imports by US President Donald Trump could severely undermine India's manufacturing ambitions and slow economic growth.

As noted by The Economic Times, US President Donald Trump’s 25% tax on Indian exports has caused a great deal of uncertainty in India’s macroeconomic and trade environment. The abrupt change might hurt company profitability and erode investor sentiments across multiple sectors,