- The United States last month has doubled the prices on imports from India at 50%.
- Indian FM says the country will continue to buy Russian oil.
- The trade in double-meaning goods in the United States totaled $ 129 billion in 2024.
The 50% prices of US President Donald Trump on India could reduce the gross domestic product in the country of half-for a hundred this year, said the country’s chief economic advisor against Annantha Nageswaran Bloomberg TV interview on Monday.
“Depending on the duration of it, even during this exercise, this can result in an impact of GDP somewhere between 0.5% and 0.6%,” he told the diffuser.
Trump, who is trying to end the Ukrainian conflict, said that India oil imports were helping to finance Moscow’s war effort and that last month, prices doubled imports from India at 50%.
The Minister of Finance, Nirmala Sitharaman, said last week that the third largest oil importer and the consumer in the world will continue to buy Russian oil because he is economical.
The trade in American double -sense goods totaled $ 129 billion in 2024, with an American trade deficit of $ 45.8 billion, according to US Census Bureau data.
Exporting groups believe that prices could affect almost 55% of the $ 87 billion in India from India to the United States, while benefiting competitors such as Vietnam, Bangladesh and China.
Nageswaran said that it would stick to growth forecasts from 6.3 to 6.8% of the government for the current financial year ending in March 2026, citing the expansion of the 20 April quarter of 7.8%, the fastest in more than a year.
