Julius Baer's Head of Research for Asia, Mark Matthews, said India's "position remains relatively stronger" than other Asian counterparts after the US announced reciprocal tariffs. India's US exports, however, could drop by $30-33 billion or about 0.8-0.9% of GDP, Emkay economist Madhavi Arora said. Analysts further expect a negative impact on India's IT and gems sectors in the short term.