"If Trump's ire is on the trade surpluses, it should actually be directed at China, not at India. India is a sideshow for all these, and it probably got activated due to personal egoistic reasons, on the Nobel Prize or the ceasefire. So we were in a very strange situation", the professor
India's exports to the United States are showing signs of further decline as September marks the first full month under 50 per cent tariffs on key products, according to a report by GTRI.
Indian stock markets opened on a strong note on Thursday as investors welcomed the U.S. Federal Reserve's decision to cut interest rates by 25 basis points.
Union Finance Minister Nirmala Sitharaman on Friday said that India will continue purchasing Russian oil, stressing that decisions will be guided solely by national interest.
India's strong domestic demand and the robust performance of its services sector will help cushion the economic impact of steep new US tariffs imposed as a penalty for continued imports of Russian crude oil, according to a report by Moody's Ratings.
India's reliance on domestic consumption rather than exports is a key strength in navigating the recently imposed reciprocal tariff, said Madan Sabnavis, Chief Economist at Bank of Baroda.
"Given, India's price competitiveness and supportive government policies, we expect GDP to see only a 0.1 per cent impact," said PHDCCI in a statement.
India could see a decline of USD 5.76 billion or 6.41 per cent in exports to the United States (US) because of the tariffs, in 2025 says a research report by the Global Trade Research Initiative (GTRI).
US President Donald Trump has announced a steep 27 per cent tariff on imports of Indian goods, triggering concern across global markets and trade analysts.
According to new U.S trade policy announced by President Donald Trump on Wednesday, how much a country pays in tariffs will depend on the type of goods being exported and their origin, says GTRI founder Ajay Srivastava.
Indian textiles, engineering goods, electronics, and gems & jewellery sector exporters are expected to hit hardest by the tariffs announced by Donald Trump, said Ajay Bagga, a banking and international stocks expert, in an exclusive conversation with ANI.