RBI Governor Sanjay Malhotra Sees Hope In Talks On Trump’s 50% Tariff, "Impact On India Minimal"

At FIBAC 2025, RBI Governor Sanjay Malhotra addressed external risks facing India, including the proposed 50% tariff on Indian exports to the U.S. announced by President Donald Trump. Malhotra noted the tariffs have not yet taken effect and expressed hope that negotiations will succeed, limiting any negative fallout. He emphasized that even if implemented, the overall impact on India’s economy is expected to be minimal. Highlighting India’s resilience amid global uncertainty, Malhotra said monetary policy and trade diplomacy must work together to mitigate external shocks and safeguard growth momentum.