Washington, April 24, 2025:
India’s Finance Secretary, Ajay Seth, said that new U.S. tariffs (extra taxes on trade) could make India’s economy grow a little slower. He thinks the country’s GDP (the total value of goods and services made) could fall by 0.2% to 0.5% because of these tariffs.
Mr. Seth shared this while speaking at an event during the big meetings of the International Monetary Fund (IMF) and World Bank in Washington.
“We are growing at about 6.5% this year,” he said. But he warned that trade troubles could also affect the world economy, not just India.
He believes India can grow at about 7% every year over the next 10 years. However, to meet big goals in the future, India needs to grow even faster.
Mr. Seth also said that Indian officials are in the U.S. for talks about trade, but he did not share more details about the meetings.
