“The impact of American definitions on the Indian economy will be management; it will not hinder the prospects of growth”: S&P

The S & P Global Race Agency said that the impact of the American definitions on the Indian economy can be controlled, and the total impact may be marginal without deviating from the long -term growth prospects in India. The Trump administration imposed a 50 percent tariff on India, and the higher secondary definitions threatened if New Delhi did not stop buying Russian oil.

“We believe that the impact of the American definitions on the Indian economy will be managed. India is relatively less dependent on trade, and about 60 percent of its economic growth stems from local consumption. We will be in the event that India is in the event that it is prepared from the Russians and the Russians, and financial costs, if it is certain that it has been based on internationalism between the Russian.”

The classification agency, despite Trump’s tariff, set a strategic look and upgraded its classifications to “BBB” from “BBB-“.

“Although the United States is the largest commercial partner in India, we do not expect the tariff of 50 percent (if it is imposed) a jar process on growth. India’s exports to the United States will constitute about 2 percent of GDP. Growth, and we imagine the total impact to be marginal and will not hinder long -term growth prospects in India.

S& P World Manager at S& PUAA has expressed similar feelings on Wednesday. Fawa said that Trump’s tariff is unlikely to affect India’s economic growth “because India is not a very directive economy.”

The agency said that the performance of the Indian economy in recent years highlights its historical flexibility. She expected solid growth forecast. The agency also stated that the institutional and financial sectors in India have stronger public budgets by the epidemic. She said, “We are aware, however, that the high growth rates in India need to maintain it for a long period of time for the economy to create sufficient jobs, reduce inequality, and make full benefit from favorable population composition.”