India's Growth Unscathed: Tariffs Won't Derail Economic Momentum
S&P Global Ratings Director YeeFarn Phua stated that US-imposed tariffs will not impede India’s economic growth due to its non-trade-oriented economy. Despite President Trump's tariff increase, India's sovereign rating remains positive, with economic resilience supported by domestic demand and limited export exposure to the US.
- Country:
- India
Amid escalating trade tensions, S&P Global Ratings affirms that India's economic growth trajectory will remain unaffected by the recent US tariff hikes on Indian imports. YeeFarn Phua, S&P's Director, emphasized India's resilience due to its non-trade-oriented economy.
Despite President Donald Trump's announcement of a steep 25 percent hike in tariffs, India's sovereign rating outlook persists as positive. Director Phua highlighted that India's minimal export reliance on the US insulates it from potential economic setbacks.
YeeFarn also noted that key sectors like pharmaceuticals and consumer electronics, exempt from these tariffs, fortify India's economic stance. With a burgeoning domestic market, India continues to attract investment, underscoring its robust economic fundamentals.
(With inputs from agencies.)
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