An Indian economist has warned about the potential consequences of tariffs recently imposed by President Donald Trump.

Trump raised tariffs to 50 per cent on most imports from India into the US last month.

Earlier, a 25 per cent tariff on Indian goods was implemented, but the White House announced plans to double the rate, citing India's ongoing purchases of Russian oil, which it says indirectly supports Russia's war in Ukraine.

Economist Nawal Kishore Chaudhary said that while the initial impact could include economic slowdown and job losses, he sees it as an opportunity for India to strengthen ties with BRICS countries, particularly Russia and China, for long-term economic gains.

Chaudhary, who made the comments in Bihar on Saturday, August 30, added: 'It is going to impact small-scale industries in India, particularly the textile industry, which will all mean that there will be job losses, there will be loss of income.

'While this creates challenges for India, this creates opportunities as well.

'This will mean a shift in the global economic and political order. It will also mean that India will further enhance its efforts for self-reliance.'

The government has declined to stop buying Russian oil, while Prime Minister Narendra Modi has encouraged support for local products.

Trump earlier said: 'I don't care what India does with Russia. They can take their dead economies down together, for all I care.'

Since returning to office in January, the US president has raised tariffs on goods from many countries around the world.