New Delhi: The Global Trade Research Initiative (GTRI) has criticized former US President Donald Trump’s recent suggestion of imposing 100% tariffs on Indian goods, calling the proposal unrealistic and impractical in the current global trade environment.
According to GTRI, India should focus on expanding local currency trading to reduce its dependence on the US dollar while avoiding full adoption of a BRICS currency at this stage. Experts emphasized that India’s best interests lie in striking a balance between strengthening its own currency and navigating global trade dynamics.
The GTRI also highlighted that a move toward local currency trading could shield India from volatility in the global financial system and reduce transaction costs in international trade. Meanwhile, the threat of steep tariffs from Trump has been dismissed as a populist measure that could harm US-India trade relations and escalate tensions.
This comes as India continues to advocate for diversified trading mechanisms and strengthen partnerships with key trading blocs like BRICS and G20 to ensure sustainable growth and economic resilience.
