'Shouldn't assume our economy depends on handful of nations': Kirti Vardhan Singh says US tariffs won’t hurt India much

NEW DELHI: Union minister of state for external affairs Kirti Vardhan Singh on Thursday said India is unlikely to face a significant impact even if the United States imposes higher tariffs on trade. He asserted that the strength of the Indian economy was now widely recognised, including by US president Donald Trump.Kirti Vardhan Singh said Trump had earlier spoken about imposing steep tariffs on India but had since realised that such steps would not seriously harm the country due to its robust economic fundamentals, reported news agency PTI. On the perceived softening of Trump's stance towards India, Singh said India today enjoys strong trade engagement with regions across the world, including Africa, the European Union and several other countries."With its large population, India is a vast market. No country, especially the United States, should assume that India’s economy depends only on a handful of nations," he said.Citing India's growing economic and military strength, he said: "This realisation is gradually becoming clear to everyone."Referring to broader global trends, the minister said the world order had shifted from a bipolar framework to a multipolar one, with several power centres emerging.