India's Economic Resilience Amid Global Trade Turmoil

India is on track to meet its economic growth target of 6.3%-6.8% for 2025/26, provided oil prices remain under $70 per barrel. Despite global trade challenges due to U.S. tariffs, India plans to support affected exporters without retaliating, focusing on maintaining key fiscal parameters.

India is poised to achieve its economic growth target of 6.3%-6.8% for the fiscal year 2025/26, contingent on oil prices staying below $70 per barrel, according to a finance ministry official.

This assessment comes amid global market disruptions stemming from U.S. President Donald Trump's tariff strategies, causing sharp declines in Asian stock indices. Economists suggest that these tariffs could lower India's growth this fiscal year, affecting key sectors like the diamond industry.

Despite these challenges, a second finance ministry official assured that the tariffs won't severely impact India's fiscal outlook for 2025/26. India appears committed to assisting its export sectors without retaliating, as negotiations with the U.S. continue.

(With inputs from agencies.)