Reserve Bank of India Governor Sanjay Malhotra stated that the potential effects of US-imposed tariffs, particularly those initiated under former President Donald Trump, are expected to be small for India’s economy. Speaking at the FIBAC annual banking conference in Mumbai, Malhotra emphasized that the central bank remains firmly committed to its primary objective of sustaining economic expansion. n nHe expressed optimism regarding ongoing trade discussions between Indian and American officials, noting that these diplomatic efforts could help mitigate any adverse consequences. According to Malhotra, the overall disruption to India’s economic trajectory from foreign trade policies is anticipated to be negligible. n
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RBI Chief Sees Limited US Tariff Hit, Growth Still in Focus
The Reserve Bank of India Governor Sanjay Malhotra said US President Donald Trump’s tariffs will likely have a limited impact on India, while stressing the central bank hasn’t “lost sight” of its growth mandate. n n“We are hopeful trade negotiations” between New Delhi and Washington will “play out,” Malhotra said at FIBAC, an annual banking event in Mumbai on Monday. The impact of tariffs on India could be “minimal,” he said.