How much impact will Trump's tariff have on indian economy?
The tariff imposed by US President donald trump and the subsequent turmoil in the global market have created new challenges for the global economy. But the question is how bad can Trump's tariff affect the indian economy? government officials say that the global economic crisis can have very little impact on India.
News agency Reuters quoted government officials, in which they said - "Despite the tariff imposed by the US, India's estimated growth rate in the financial year 2025-26 can be between 6.3% to 6.8%. Also, the price of oil can be $ 70 per barrel."
This estimate of GDP has been made by government officials at a time when many economic experts have expressed apprehension of a decrease in the pace of the country's GDP.
Many economists, including Goldman Sachs, citing the impact of global tariffs imposed by US President donald trump, have estimated that India's GDP growth rate will decline by 20 to 40 basis points for the financial year 2025-26. They say that India's GDP rate can be up to 6.1%.
A 26 percent tariff on indian goods as well as heavy tariffs on other countries including china led to a sharp decline in the Asian stock market. The indian stock market also slipped by about 4%.
The indian diamond sector, which exports about a third of its production to the US, is facing the biggest threat. Many people engaged in this sector may lose their jobs. government officials say that discussions are going on between export associations and the concerned ministry to assess its consequences. The Finance Ministry has given a four-five point proposal to help the export industry on behalf of the Commerce Ministry. Another government official has confirmed this. The proposals to help include interest subsidy programs, support for diversification and increasing bank credit. The official said the government will continuously evaluate how the increased tariffs affect different export sectors.
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