New Delhi, Aug 7
Billionaire investor Mark Mobius said on Thursday that upcoming 50 per cent tariffs on India, imposed by US President Donald Trump, will have less impact on the country as it has a massive domestic market to cushion itself, and does not fully depend on exports like China.
The global investor who runs the Mobius EM Opportunities Fund for emerging markets (EMs), said India is in a good position to navigate these tariffs than other nations.
“India has a huge domestic market and does not depend on exports like China. Also, Indian software exports are great and escape tariffs,” he noted.
“Conclusion: no big problem for India,” Mobius told.
Shipments worth more than $30 billion involving pharmaceuticals and certain electronic items such as smartphones, semiconductors, and energy are so far secure from higher duties as these are still under an exemption list. Trump has not yet included these key industries in the new tariffs that are slated to come into effect in the next 21 days.