Urjit Patel: ‘Tariff impacting 55% Indian exports to US, need to mitigate pain’

News Snapshot:

Urjit Patel, India’s newly appointed Executive Director at the International Monetary Fund and a former Governor of the Reserve Bank of India, has said US punitive tariffs are impacting 55 per cent of Indian goods exports and the immediate pain needs to be mitigated. While much of the global trade remains stable, he said the tariffs have become a major source of investment uncertainty in the country. In an interview with The Indian Express, Patel said Russian oil is resulting in significant positive benefit to India’s balance of payments. The impact of sanctions, he said, have been largely ignored by...