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Trump's punishing tariffs test India's economic resilience
The Star
|September 04, 2025
INDIA, which has been bracing for the negative impact of Donald Trump’s sweeping trade tariffs, has shown surprising economic resilience, posting record growth of the country’s private sector economy in August.
The International Monetary Fund has raised its FY26 and FY27 forecasts for the country, and domestic demand remained robust in the face of the initial 25% tariff imposed by the US.
However, India’s ingenuity and resilience are set to be tested to the limit now that Trump has slapped an additional 25% to the earlier 25% export tariff imposed by Washington against India.
New Delhi now faces a whopping 50% tariff on its exports, as punishment for purchasing crude oil from Russia in defiance of a US embargo.
Amidst the gloomy reality of being among the countries facing the highest US tariffs in the world, the findings of an HSBC Flash India PMI survey by S&P Global showing that August marked the quickest pace of business activity growth ever recorded in India, was welcome news.
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