India will navigate global trade disruptions effectively: FM

The world is going through a "very challenging" phase of trade calibrations, Union finance minister Nirmala Sitharaman said on Thursday, warning that intensifying tariff wars and rising protectionist policies threaten to disrupt global supply chains.

- Rajeev Jayaswal

NEW DELHI:

Speaking at the 150-year celebrations of the Bombay Stock Exchange (BSE), Sitharaman said that current trade tensions could "increase production cost and create uncertainty in investment decisions across borders," with ripple effects on financial markets globally, including in India.

Despite these challenges, the finance minister expressed confidence that India would navigate global disruptions effectively, citing the "robustness of Indian institutions and the government's long-term vision."

"The global landscape is changing, and changing rapidly," Sitharaman said. "The recalibration efforts on trade are very-very challenging."

Her comments come amid escalating global trade tensions following the United States' imposition of sweeping tariffs on imports from numerous countries, including a baseline 10% tariff that took effect on April 2, with additional country-specific tariffs paused for some nations like India until July.