`No reason to be alarmed�`, Expert breaks down Donald Trump`s 50% tariff on India over Russian oil Purchase

2025-08-07 12:39:36 pm | Source: ANI

`No reason to be alarmed�`, Expert breaks down Donald Trump`s 50% tariff on India over Russian oil Purchase

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Dr Manoranjan Sharma, Chief Economist, Infomerics Ratings, said, "This evening, President Donald Trump has imposed additional tariffs on India to the extent of 25%, taking the total tariff level to 50%. This will severely hit sectors such as drugs and pharmaceuticals, textiles, electricals and electronics, gems and jewellery. So this is certainly a reason for us in India to be concerned, but no reason for us to be alarmed. It is essential to remember that India, unlike China, is largely a domestically driven economy...We have weathered many storms in the past, like the global financial crisis of October 2008 or even the COVID-19 pandemic. So we are confident this will cause some hit but will be able to weather this shock confidently."

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`No reason to be alarmed�`, Expert breaks down Donald Trump`s 50% tariff on India over Russian oil Purchase

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