Former US official says India’s fastest-growing economy can bear tariff pressures

 
A former US official says that India’s position as the world’s fastest-growing economy gives it the confidence to stand firm against tariff pressures and adopt policies that protect its long-term interests. Raymond Vickery, Senior Associate at the Centre for Strategic and International Studies and former US Assistant Secretary of Commerce pointed out that India’s trade deal with the UK serves as a good example, as it offers stability, lowers tariffs, and addresses the needs of both economies. Speaking to a news agency on the impact of US President Donald Trump’s proposed tariff measures, he said, unpredictable nature of Trump’s trade policies makes long-term planning difficult. Vickery added that Trump’s stance towards India reflects a lack of appreciation for its economic potential and a short-sighted view that fails to recognise the benefits of a medium or long-term partnership. Highlighting India’s strengths, Vickery noted that the country boasts some of the best technical talent in the world and has a vast consumer market that is still developing. He praised the Prime Minister Narendra Modi government’s emphasis on national interest, but cautioned that true prosperity will come from competing globally. He said, India has moved far beyond the license raj mentality of the past and now has the capacity to be a global economic leader.