New Delhi, Aug. 2 -- India's reliance on domestic consumption rather than exports is a key strength in navigating the recently imposed reciprocal tariff, said Madan Sabnavis, Chief Economist at Bank of Baroda.

Speaking during a webinar on the impact of Tariffs on India, Sabnavis highlighted that India's non-export-oriented nature makes its economy more resilient to external shocks arising due to the imposition of tariffs.

"Since we are not an export-oriented economy, it is becoming advantageous for us because we are more dependent on domestic consumption," said the Bank of Baroda Chief Economist.

For context, on Wednesday, US President Donald Trump announced the imposition of 25 per cent tariffs on Indian goods plus an unspecified pena...