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Reserve Bank of India (RBI) Governor Sanjay Malhotra has downplayed concerns over the 50 per cent tariffs imposed by the United States, stating they are unlikely to significantly hinder India’s economic growth. Speaking at an event on the sidelines of the IMF-World Bank meetings in Washington, D.C., he noted that India’s largely domestic-driven economy helps offset the impact of such external measures. He also mentioned that the Indian trade delegation is already in Washington for the next round of negotiations with U.S. officials.
Mr. Malhotra added that he met members of the negotiating team over breakfast to review key issues. Despite the steep tariff increase introduced by the Donald Trump administration, India’s exports to the U.S. climbed to 45.82 billion dollars during the first half of the current financial year (April–September), marking a 13.3 per cent rise from 40.42 billion dollars in the same period last year.
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