RBI Governor asserts 50% US tariffs on India are not matter of huge concern for India’s growth

Reserve Bank of India(RBI) Governor Sanjay Malhotra has asserted that the 50 per cent US tariffs on India are not a matter of huge concern for India’s growth. Speaking at an event during the IMF-World Bank meetings in Washington, DC, Mr Malhotra said that India’s status as a domestic-driven economy negates the negative impact of US tariffs. The Indian trade negotiating team is already in Washington for the next round of trade talks with US officials.
 
The RBI Governor also said that he met members of the Indian negotiating team over breakfast to discuss the issues. Despite the 50 per cent tariff hike imposed by the Donald Trump administration, India’s exports to the US rose to 45.82 billion dollars in the first half of the current financial year (April-September), which represents a 13.3 per cent increase over the corresponding figure of 40.42 billion dollars in the same period last year.