In a 30-minute interview to Karan Thapar for The Wire, Biswajit Dhar, a former professor at Jawaharlal Nehru University and now a distinguished professor at the Council for Social Development, said that the impact of US President Donald Trump’s tariffs on Indian exportsamount to a loss of hundreds of thousands of jobs. Though Dhar was reluctant to quantify the negative impact on GDP growth, he added “there is no doubt about [its negative impact]”.
One of India’s foremost experts on trade, Dhar also said that the belief that the total quantum of Trump’s tariffs on India is 27% is a misreading of the American text and it is, in fact, 37%.
He also said that there would be a negative impact on investments in India, both domestic and foreign, because of the increased international economic uncertainty. He believes that the US is likely to slide towards a situation approximating stagflation by the end of this year and that would also adversely impact India’s growth.
