<h1>US Tariffs Have Limited Impact on India; GDP Growth Driven by Domestic Demand, Tax Cuts, and Reforms</h1> S&P Global Ratings reports that US reciprocal tariffs will have a limited impact on India due to its domestically oriented economy with minimal reliance on exports. India's GDP is expected to grow at 6.7-6.8% over the next two years, driven by domestic demand and tax cuts. The government focuses on investment-led growth and agriculture reforms, with fiscal deficit targets projected to be met despite potential revenue losses. India's export sectors like textiles and chemicals may face tariff risks, but the impact is expected to be minimal. The US recently removed tariffs on Indian steel and aluminum imports.