Trump tariffs for India

US tariffs of 50% on Indian goods seeks to punish India for buying Russian oil. India needs targeted steps to counter massive job losses and reduce the wider damage. Fortunately the Reserve Bank of India has sufficient foreign exchange reserves to handle the pressure which could result from India's current account deficit which is expected to grow. The Chief Economic Adviser , Nageswaran has said that measures taken by the government like direct tax cuts forthcoming GST tax structure reforms and employment linked incentives would be supportive of the overall economy. Meanwhile, negotiations should not stop as it would signal a failure of diplomacy

Date of Update: 31-Aug-25