India’s central bank held its key interest rate as Donald Trump’s planned increase to tariffs on the country’s exports to the US threatens to send its economy into turmoil.

The move was in line with expectations from economists polled by Reuters, and comes after the Reserve Bank of India delivered an outsized cut of 50 basis points

US President Donald Trump said Tuesday that he plans to raise tariffs on India "very substantially" within 24 hours, citing New Delhi's continued purchases of Russian oil and high trade barriers.