NEW DELHI (Reuters) -The immediate impact of U.S. tariffs on Indian exports appears limited, but the ripple effects on the economy pose challenges that must be addressed, India’s finance ministry said in its July monthly economic review, released on Wednesday.
The report by the finance ministry said ongoing India-US trade negotiations “will be crucial”. India is pursuing a diversified trade strategy, which includes its recent trade deal with Britain and some European nations. It also has ongoing talks with New Zealand and the European Union, among others, to sustain its “resilient trade performance”.