By Admin 
Former Governor and economist of the Reserve Bank of India, Dr. Raghuram Rajan has described the heavy tariff on Indian exports of America as extremely worrying. He has described it as a wakeup call for India to reduce dependence on one business partner country.
Speaking about the 50 percent tariffs that came into force from Wednesday, which includes 25 percent additional fine associated with the purchase of Russian oil by India, Dr. Rajan warned that business, investment and finance are being made fast weapons in today’s global system, so India should take care.
Tariff warned for India
In an interview given on Wednesday (August 27, 2025) on India Today, Rajan said that this is a warning that we should not depend too much on any one country. We should now look at East, Europe and Africa and move forward with America, but should implement reforms that help us achieve the growth rate of 8-8.5 percent required to provide employment to our youth.
The Trump administration has imposed this rigorous tariff on India to buy Russian crude oil, while the largest importer of Russian oil is China and Europe, which is buying a large amount of energy products from Moscow. No such concrete action has been taken against them.
‘Need to reconsider Russian oil imports’
Rajan suggested that India revaluate its policy on Russian oil imports. He said that we have to ask who is benefiting and who is harming. Refiners are earning excessive profits, but exporters are paying its price through tariffs. If the benefit is not very high then it is probably worth considering whether we should continue this shopping.
What said on the allegations of the Trade Advisor of the White House
On the allegations of the White House’s Trade Advisor Peter Navaro of making profiteering through Russian oil, Rajan said that it seems that at some point the President (Trump) had decided that India is a country that is not running according to his rules and should be isolated. Navaro will not write in the financial time without permission.
Trump’s long -time associate, Navaro said last week that Indian refiners are earning money by promoting Russian oil and promoting Ukraine war. He argued that he does not need oil. This is a refining profiteering scheme.
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