Trump tariffs on India may be good news, says ex-RBI deputy governor: Report
Prime Minister Narendra Modi with US President Donald Trump during a meeting at the White House, in Washington, DC.
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Indian firms will be forced to raise their standards and take on global rivals, former RBI Deputy Governor Viral Acharya told in an interview
US President Donald Trump’s tariffs on Indian goods may not be bad news, as they would push the Indian government to lower trade barriers, spurring competition and growth, said former Reserve Bank of India (RBI) deputy governor Viral Acharya.
Indian firms would thus be forced to raise their standards and compete with global rivals, Acharya said in an interview with Bloomberg. This, he added, would also lead to higher-quality jobs and a larger manufacturing base.
Acharya is now the director of doctoral education at the NYU Stern School of Business. He was the RBI deputy governor between 2017 and 2019.
Trump has threatened to impose reciprocal tariffs on countries from April 2, 2025, raising taxes on imports to the US to the same level that a trading partner imposes on American goods.
India would be among the countries worst hit by these tariffs, the report cited economists as estimating. This is because of the wide 10% differential between the two countries.
Acharya is now the director of doctoral education at the NYU Stern School of Business. He was the RBI deputy governor between 2017 and 2019.
Trump has threatened to impose reciprocal tariffs on countries from April 2, 2025, raising taxes on imports to the US to the same level that a trading partner imposes on American goods.
India would be among the countries worst hi
2025-03-11
By
Anushka Tripathi
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