Tariff War Sparks Opportunities for India's Economic Growth
Chief Economic Adviser V Anantha Nageswaran identifies opportunities for India arising from the ongoing US tariff war. He highlights sectors where India might gain advantage and emphasizes the potential for a bilateral trade agreement with the US. Nageswaran also points out challenges, from the need for energy investments to the threats posed by AI and robotics.
- Country:
- India
The ongoing tariff war initiated by the US Trump administration could provide India with unexpected opportunities in various sectors, according to Chief Economic Adviser V Anantha Nageswaran. Speaking at the CII Annual Business Meet, he noted the potential silver linings amid geopolitical tensions, especially with current low energy prices.
Nageswaran stressed the possibilities for India in sectors previously at a disadvantage, projecting potential gains no matter how the tariff situations evolve with the US after the specified suspensions. Currently, discussions between India and the US aim to finalize a bilateral trade agreement, especially an interim deal for tariff exemptions.
Highlighting challenges alongside opportunities, Nageswaran touched on labor market issues and the need for investment in energy transitions to support economic growth. As the US remains India's largest trading partner, strategically navigating the evolving trade landscape is crucial for India's future economic trajectory.
(With inputs from agencies.)
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