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Too early to gauge impact of US tariff on India GDP growth, says CEA
This story was originally published at 13:24 IST on 13 August 2025
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NEW DELHI – The Indian economy has not shown any sign of slowdown after the US' announcement of 50% tariff on Indian goods and it is too early to assess the impact of the tariffs on India's GDP growth, Mint reported, quoting Chief Economic Adviser to the Government V. Anantha Nageswaran. The CEA has projected economic growth in range of 6.3% to 6.8% in the current fiscal year.
Indian goods are subject to a 25% reciprocal tariff in the US, which is set to rise to 50% from Aug. 27. As such, the US' tariff rate for India has risen sharply to an average of at least 28% from the weighted average tariff rate of just 2.8% before US President Donald Trump's tariff announcements.
The duty hike by the US, which is India's top export destination with a nearly 20% share in total outbound shipments, may potentially hurt the country's export growth. India had exported goods worth $86.51 billion to the US in 2024-25 (Apr-Mar) and had a trade surplus of $40.82 billion. End
US$1 = INR 87.67
Compiled by Krity Ambey
Filed by Akul Nishant Akhoury
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