Our Bureau
New Delhi
India’s economy could grow at about 7.4 per cent in the coming year if the recently announced India–US tariff deal translates into higher exports and stronger investment, Chief Economic Adviser V. Anantha Nageswaran has said. The estimate is above the government’s earlier projection of 6.8–7.2 per cent for the next fiscal year.
Under the new understanding, the United States has cut its tariff on most Indian goods to 18 per cent from 25 per cent and removed an additional 25 per cent punitive duty linked to India’s purchases of Russian oil. Nageswaran said that lower US tariffs remove a key external risk for India and could push growth close to this year’s estimated 7.4 per cent, though he said the final number will depend on detailed calculations.
The deal is expected to help Indian exporters, especially in labour‑intensive sectors such as gems and jewellery, textiles and apparel, which are among the country’s top export categories to the US. Financial markets reacted positively, with the rupee rising sharply and Indian stocks posting their biggest single‑day gains in several years, reflecting hopes of stronger growth and better external conditions.
