Brief by Shorts91NewsDesk / 07:36am on 07 Apr 2025,Monday Business
Despite the U.S. imposing a 26% tariff on Indian imports, Indian officials maintain that the nation's economic growth target of 6.3%-6.8% for the 2025/26 fiscal year remains achievable, provided oil prices stay below $70 per barrel. Conversely, private economists, including those from Goldman Sachs, have reduced their growth forecasts by 20-40 basis points, anticipating a 6.1% growth rate. The diamond industry, heavily reliant on the U.S. market, faces significant challenges, potentially jeopardizing thousands of jobs. The government is evaluating support measures for affected export sectors, such as extending interest subsidies and enhancing bank credit. Officials assert that India's core fiscal parameters will remain stable, opting for diplomatic negotiations over retaliatory actions. (PC: Reuters)
