Trump's 25% Tariff on Indian Exports to Have Minimal Economic Impact Government Sources
The 25% tariff imposed by former U.S. President Donald Trump on Indian exports to the U.S. is expected to have only a minor effect on the Indian economy, according to official sources. The potential reduction in GDP is estimated to be no more than 0.2%, aligning with the views of an India-based economist cited by Bloomberg, who projected a GDP slowdown of just 0.3%.
Given India's projected nominal GDP of ₹330.68 lakh crore for FY 2024-25, a 0.2% decline is considered "manageable" by officials.
Sources emphasized that India will not concede to U.S. demands to open up its agriculture and dairy sectors, particularly when it comes to sensitive items like beef or dairy products derived from animals fed with non-vegetarian inputs such as bonemeal, which could conflict with religious beliefs.
The government reiterated its commitment to protecting the country's interests and safeguarding the livelihoods of farmers, entrepreneurs, and Micro, Small, and Medium Enterprises (MSMEs).
00:00Trump's 25% tariff on Indian exports to have minimal economic impact, government sources.
00:13The 25% tariff imposed by former U.S. President Donald Trump on Indian exports to the U.S.
00:19is expected to have only a minor effect on the Indian economy, according to official sources.
00:25The potential reduction in GDP is estimated to be no more than 0.2%, aligning with the views of an India-based economist cited by Bloomberg, who projected a GDP slowdown of just 0.3%.
00:39Given India's projected nominal GDP of 330.68 Indian rupees lakh crore for FI 2024-25, a 0.2% decline is considered manageable by officials.
00:53Sources emphasized that India will not concede to U.S. demands to open up its agriculture and dairy sectors,
01:01particularly when it comes to sensitive items like beef or dairy products derived from animals fed with non-vegetarian inputs such as bone meal, which could conflict with religious beliefs.
01:12The government reiterated its commitment to protecting the country's interests and safeguarding the livelihoods of farmers, entrepreneurs and micro, small and medium enterprises, MSMEs.
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