If financially-strong people absorb pain, SMEs will emerge stronger: India on US tariffs
Finance Ministry said it's time to "demonstrate understanding of national interest" as US' 25% penalty tariffs take effect. In the July 2025 Economic Review, the ministry said, "If the near-term economic pain is absorbed more by those who have...financial strength...then SMEs in downstream industries will emerge stronger." "The adverse impact [of tariffs] may be on its way," it added.