Trump's 25% Tariff on Indian Exports to Have Minimal Economic Impact Government Sources<br /><br />The 25% tariff imposed by former U.S. President Donald Trump on Indian exports to the U.S. is expected to have only a minor effect on the Indian economy, according to official sources. The potential reduction in GDP is estimated to be no more than 0.2%, aligning with the views of an India-based economist cited by Bloomberg, who projected a GDP slowdown of just 0.3%.<br /><br />Given India's projected nominal GDP of ₹330.68 lakh crore for FY 2024-25, a 0.2% decline is considered "manageable" by officials.<br /><br />Sources emphasized that India will not concede to U.S. demands to open up its agriculture and dairy sectors, particularly when it comes to sensitive items like beef or dairy products derived from animals fed with non-vegetarian inputs such as bonemeal, which could conflict with religious beliefs.<br /><br />The government reiterated its commitment to protecting the country's interests and safeguarding the livelihoods of farmers, entrepreneurs, and Micro, Small, and Medium Enterprises (MSMEs).<br />
