Goa, Aug. 1 -- The Indian government has dismissed concerns over the 25% tariff imposed by former U.S. President Donald Trump on Indian exports, calling the move "negligible" in terms of its economic fallout. According to senior government sources, the expected impact on India's GDP will not exceed 0.2%, amounting to a manageable Rs.66,000 crore loss on the Rs.330.68 lakh crore nominal GDP projected for FY 2024-25.

This aligns with projections by independent economists, including one cited by Bloomberg, who pegged the hit to growth at around 0.3%.

No Compromise on Core Sectors, Trade Deal Still in Sight

Sources reiterated that India will not yield to American pressure to open sensitive sectors-particularly agriculture and dairy-under a...