Will India be spared from Trump tariffs? RBI has an answer
Reserve Bank of India has expressed caution over the impact of global trade tensions and protectionist policies on India.
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During the Monetary Policy Committee (MPC) meeting held between February 5 and February 7, MPC member Dr. Nagesh Kumar noted that it is too early to expect that India will be spared from the fallout of tariffs imposed by the United States.
While tariffs are directed at countries like Mexico, Canada, and China, he warned that India might not remain unaffected in this global trade upheaval. His remarks reflect growing concerns about the protectionist policies being adopted worldwide, which have triggered fears of a global economic slowdown.
RBI's minutes revealed that while high-frequency indicators show resilience in world trade, the global economy is still struggling with slower-than-expected growth, geopolitical tensions, and policy uncertainties.
Dr. Kumar added that the external environment has become increasingly challenging due to subdued global economic performance, weaker trade, and investment growth.
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