Economist and political commentator S GURUMURTHY at 19th City Union Bank (Cub) Shri V Narayanan Memorial Conference at Sastra University in Chennai | Photo credit: Bijoy Ghosh
As the tariffs of the president of the United States, Donald Trump, sent shock waves throughout the global economy, the economic thinker and the journalist G Gurumurthy said on Saturday that the problem is likely to “do less damage to India than to other countries.” He sees global agitation as a catalyst for the reinvention of the Indian economy and said that India will emerge as “a model country for the world” in the next 5-10 years.
Gurumurthy was giving a conference on the confrontation on tariffs in 19Th City Union Bank (Cub) Shri V Narayan Conmemorative Conference at Sastra University in Chennai.
President Trump seems to be “starting” in his plan to move from commercial relations “multilaterism to bilateral” with countries, said that he added that how this progresses will deepen who blinks first. “The days of globalization are in the current geopolitical change and large countries such as India should have a strong bilateral relationship with a handful of countries and cannot afford to have retained multilateral ties,” he said.
“What the Indian government will do [to tackle this]He will defend himself from what Trump is likely to do next, “he said.
India is likely, with a relatively lower debt relationship than another country, manage global agitation better than others, he said. Citing the 2008 world financial crisis experience, he said that India handled it better due to its “consumption of family system, responsible and moderation.” “We have to keep our economic-economic-economic interconnection intact.”
Track 2 Diplomacy
In the steps that India can take to stay stable amid global agitation, Gurumurthy suggested that India can have a ‘diplomacy of track 2’ with the United States that other countries lack. “All countries are formally trying [regarding tariffs] While we treat informally; There is an alignment among the leaders of the two countries, “he explained.
When commenting on the immediate repercussions of the ongoing confrontation between the United States and China, the economist predicted that the United States will face greater inflation and the concept of ‘global economy’ will disappear slowly, paving the way for a new paradigm of ‘Rubo’. Hello, he also estimated that the global trade growth rate will probably be reduced below 1 percent, below the previous projection of 2.5 percent.
Seeing the problem of the United States, he said that the imposition of rates is not new for superpower and current administration, in particular, it is with multidimensional problems both inside and outside the country. President Trump is struggling against the “alarm”, on the one hand, and also on the impact of accumulated debt and current account deficits. The country has also been paying the security invoices of Europe and now says that it cannot, Hey, he added.
Entitled The ‘Future of global trade and the rate ‘The session was modernized by Raguvir Srinivasan, editor, The Hindu business line. Drs Vaidhyasubramaniam, Vice Chancellor or Sastra University, and G Mahaingam, president of City Union Bank, were also present.
Posted on April 20, 2025