- The United States last month doubled the rates of india imports at 50%.
- Indian FM says that the country will continue to buy Russian oil.
- The trade of two -road goods from the United States totaled $ 129 billion in 2024.
The 50% rates of the president of the United States, 50% in India, could reduce the country’s gross domestic product in the middle of percent, this year, said the main economic advisor of the Nation V Anantha Nageswaran in a Bloomberg Television interview on Monday.
“Depending on how long it lasts even in this financial year, it can translate into an impact of GDP of some 0.5% and 0.6%,” he told the station.
Trump, who seeks to negotiate the end of the Ukraine conflict, said that Indian oil imports are helping to finance the Moscow war effort and last month doubled the rates of Indian imports at 50%.
The Minister of Finance, Nirmala Sitharaman, said last week, the third largest importer and consumer in the world will continue to buy Russian oil as evidenced.
The trade of two-road goods Us-India totaled $ 129 billion in 2024, with an American commercial deficit of $ 45.8 billion, according to data from the United States Census Office.
Export groups estimate that rates could affect almost 55% of the $ 87 billion of India in merchandise exports to the US, while benefiting competitors such as Vietnam, Bangladesh and China.
Nageswaran said he would keep the growth forecast of 6.3-6.8% of the government for the current fiscal year that ends in March 2026, citing the expansion of 7.8% of the quarter of April of April, the fastest in more than a year.
