(MENAFN) India is being recognized as a “bright spot” in a challenging global economy, thanks to its robust domestic growth and limited reliance on exports, according to JPMorgan Chase Asia-Pacific head Sjoerd Leenart.

In an interview with a news outlet on Monday, Leenart expressed confidence that India is well-positioned to navigate the difficulties arising from Washington’s 50% tariffs on most imports from the country.

He noted, “Sure, it has its share of issues – the tariffs, now the H1B visa issues. But overall it has a strong hand to play.”

Last month, Washington implemented a 25% tariff on most Indian imports in response to New Delhi’s purchases of Russian oil.

This measure was in addition to the 25% tariffs introduced earlier after the collapse of India-US trade talks.

India’s economy expanded by 7.8% in the quarter ending June 2025. To shield the economy from the impact of tariffs and encourage spending on domestic products ahead of the festive season, the government has reduced consumption taxes on most household items.

Trade negotiations between India and the US resumed last week. Both sides had aimed to finalize a limited trade deal by the end of July, but talks were hindered by US demands for greater access to India’s agricultural and dairy sectors.

These industries are viewed as sensitive by New Delhi due to their economic and political significance.

In August, Prime Minister Narendra Modi vowed to “stand like a wall” in protecting the interests of India’s farmers.

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