US Tariff Tensions: India Faces Economic Challenges Amid Trump's Policies

Amid ongoing trade tensions, Economic Advisory member Neelkanth Mishra anticipates the failure of US President Donald Trump's high tariffs on Indian imports. Trump announced a sharp increase in import duties citing India's Russian oil purchases. Experts discuss the potential impact on India's economic growth and job market.

A significant trade strain looms as US President Donald Trump imposes additional tariffs on Indian imports, totaling a substantial 50%. Citing India's continued Russian oil purchases, the US aims to intensify economic pressure, but experts predict these policies may not yield the intended results.

Economic Advisory member Neelkanth Mishra suggests that Trump will soon realize the inefficacy of his tariff policy. Despite these trade challenges, Mishra remains optimistic about India's economic growth, maintaining a 7% growth target as achievable under the current circumstances.

Former Planning Commission Deputy Chairman Montek Singh Ahluwalia criticized Trump's aggressive trade approach, urging India to negotiate for better terms. He emphasized the need for economic strategies that stimulate sufficient job creation amidst a modest 6.5% growth rate over recent decades.

(With inputs from agencies.)