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US tariffs could knock 50 bps off India's growth, deepen jobless recovery
Financial Express Kolkata
|August 13, 2025
Former Reserve Bank of India governor Duvvuri Subbarao says high tariffs proposed by US President Donald Trump on labour-intensive exports like textiles and gems will deepen the jobless growth problem.
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A 50% US tariff threat—as exports worth around 2% of GDP. Depending on the extent of diversion and adjustment, the growth could be 20-50 basis points in a year," he tells George Mathew in an interview. Excerpts:
With the US increasingly turning protectionist and raising tariffs on imports from China, India, and other countries, how do you assess the long-term impact of these trade policies on India's exports and manufacturing competitiveness?
This story is from the August 13, 2025 edition of Financial Express Kolkata.
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