India Shows Economic Resilience Amid Rising US Tariffs
(MENAFN) India possesses the resilience to endure economic disruptions such as the newly imposed tariffs by the United States, according to Finance Minister Nirmala Sitharaman.
Addressing the Kautilya Economic Conclave in New Delhi on Thursday, she underscored the significance of becoming more self-reliant, particularly as India contends with steep 50% tariffs on its exports, introduced by the administration of US President Donald Trump.
“Our capacity to absorb shocks is strong, while our economic leverage is evolving,” Sitharaman remarked.
She stressed that “our choices will determine whether resilience becomes a foundation for leadership or merely a buffer against uncertainty,” highlighting the pivotal role of strategic decision-making during economic pressure.
Sitharaman also noted that consistent consumer demand and reliable investment flows have played a key role in propelling the country's economic expansion—momentum that is largely driven by internal dynamics.
These stable factors have helped cushion the impact of external pressures.
Back in August, President Trump enacted a 25% punitive tariff on the majority of Indian imports, citing India’s persistent procurement of Russian oil.
This measure followed an earlier 25% duty imposed after Washington and New Delhi failed to finalize a bilateral trade deal.
This isn’t the first instance of India encountering punitive actions from the US.
The country was previously subjected to American sanctions in 1998 after it conducted nuclear weapon tests, marking another significant moment in Indo-US relations.
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