Raghuram Rajan Exlcusive: Trade, Finance, Investment New Weapons Of War, Time For Reforms

Former Reserve Bank of India Governor and economist Dr Raghuram Rajan has described the steep tariffs imposed by the US on Indian exports as “deeply distressing” and a clear “wake-up call” for India to reduce its dependence on any single trade partner. Speaking to India Today TV’s Rajdeep Sardesai in the backdrop of Washington’s 50% tariffs on Indian goods, including an additional 25% penalty linked to India’s purchases of Russian oil, Dr Rajan warned that trade, investment, and finance have increasingly been weaponised in today’s global order and that India should tread carefully. “This is a wake-up call. Let us not become dependent on any single country to a large extent. Let us look east, to Europe, to Africa, and continue with the US, but unleash reforms that will help us achieve the 8–8.5% growth needed to employ our youth,” he said.