Chief Economic Advisor (CEA) V. Anantha Nageswaran today said the impact of recent US tariffs on Indian exports will be short-lived, easing within one or two quarters.
Speaking in Mumbai, he noted that sectors such as gems and jewellery, shrimps, and textiles are facing the initial brunt, but the long-term impact on the economy will be limited. Urging patience, he stressed that the government is aware of the situation and has already begun conversations with impacted sectors.
He added that the outcome of ongoing India-US trade dynamics may also be influenced by the upcoming meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska later this month. Mr. Nageswaran noted that overall resource mobilisation in the economy remains robust, citing strong bank credit growth, commercial paper issuances, and IPO fundraising.
He urged the private sector to focus on long-term strategic goals, strengthen supply chain resilience, assuring that public policy will play a facilitating role. He also stressed that India must diversify import sources and exercise caution in adopting Artificial Intelligence (AI) to mitigate labour displacement.
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