About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the Indian government said on Monday.

India, the world's most populous nation, is a key market for American brands that have rapidly expanded to target a growing base of affluent consumers, many of whom remain infatuated with international labels seen as symbols of moving up in life.

America shouldn't have imposed tariffs on India over its exports of oil from Russia, a survey by a US-based think tank found.