Reserve Bank of India’s Nagesh Kumar raised concerns about trade wars. He said global recession poses a serious risk. This situation could adversely affect India’s economic growth. The World Trade Organization has issued warnings about declining world trade. Global GDP growth forecasts may face downward revisions. These revisions are due to reciprocal tariffs and ongoing trade disputes.
India’s growth prospects to be impacted adversely over risk of prolonged recession due to trade wars, warns RBI
