India's GDP Growth Under Threat: US Tariffs May Cut Up to 0.5% Off Economy
The ongoing trade tensions between the US and India have sparked concerns over the potential impact on India's economic growth. According to Finance Secretary Ajay Seth, the US tariffs imposed by the Trump administration could lead to a reduction in India's GDP growth by as much as 0.5%. This comes at a time when India is aiming to achieve a robust 7% growth rate over the next decade. The tariffs could have far-reaching consequences, affecting key sectors such as manufacturing and exports. As India strives to become a major player in the global economy, it is crucial to mitigate the effects of these tariffs and find ways to boost economic growth. With the use of strategic trade policies and economic reforms, India can minimize the impact of US tariffs and stay on track to achieve its growth targets, including increasing foreign investment and promoting economic development through initiatives like Make in India and Digital India, which are expected to drive growth and create jobs.
