India's Economic Resilience Amid U.S. Trade Tariffs

India's Finance Minister, Nirmala Sitharaman, emphasized the importance of support from the Reserve Bank of India and the government to bolster the country's economy, which is impacted by U.S. trade tariffs. The central bank cut its repo rate by 25 basis points to stimulate growth, marking the second consecutive rate cut.

India's Finance Minister Nirmala Sitharaman highlighted the urgent need for governmental and central bank support in response to U.S. trade tariffs impacting the national economy. She lauded the Reserve Bank of India's recent decision to cut interest rates.

The Monetary Policy Committee followed up an earlier reduction with a second rate cut of 25 basis points, bringing the repo rate down to 6.00% as a means to stimulate economic growth amid external tariff pressures from the U.S.

During a visit to London, Sitharaman expressed optimism regarding the central bank's move, stating that growth remains a key priority and that concerted efforts from both the government and the RBI are essential.

(With inputs from agencies.)