Brief by Shorts91 Newsdesk / 08:06pm on 27 Aug 2025,Wednesday India
Former RBI Governor Raghuram Rajan has called the new US tariffs on Indian exports “deeply distressing” and a “wake-up call.” The 50% duty, including an extra 25% linked to Russian oil imports, came into effect Wednesday. Rajan warned that trade, investment, and finance are now weaponised, urging India to diversify its partners and reduce dependence on any single country. He suggested India reassess Russian oil imports and push reforms to achieve 8–8.5% growth. Rajan said small exporters like shrimp farmers and textile makers will suffer most, while US consumers will also face higher costs. (PC: India Today)
