The direct hit from tariffs launched by Donald Trump’s administration on India could shave off between 0.2-0.5 percentage factors from GDP progress, the nation’s Finance Secretary Ajay Seth stated on Wednesday (April 23, 2025).
“Now there is a sign of that…we grow about 6.5% in the current year,” stated Mr. Seth, talking at a Hudson Institute occasion on the sidelines of the Spring Meetings of the International Monetary Fund and World Bank in Washington.
“Second order (effects) would be important,” stated Mr. Seth, referring to considerations that commerce turmoil would sluggish world progress.
He added that he anticipated potential progress fee of round 7% could be achieved over the subsequent decade, although India wanted to broaden its financial system at a fee quicker than that to obtain its bold longer-term targets.
Mr. Seth additionally stated that the delegation from India was on the town for additional negotiations on commerce with the U.S. administration, although he declined to giver additional element on what conferences had been deliberate.
Published – April 24, 2025 01:24 am IST
