Tesla owner Elon Musk has said that he tried to dissuade US President Donald Trump from levying tariffs but was unsuccessful. His comments come at a time when India’s GDP grew at a higher-than-expected pace of 8.2 per cent despite US tariffs.
While speaking at Zerodha founder Nikhil Kamath’s ‘People by WTF’ podcast, he said, “I mean, the President has made it clear he loves tariffs. You know, I’ve tried to dissuade him from this point of view, but unsuccessfully.”
He also mentioned that he is a proponent of free trade, adding that tariffs or other such barriers make little sense even at a basic level.
“Would you want tariffs between you and everyone else at an individual level? That would make life very difficult. Would you want tariffs between each city? No, that would be very annoying. Would you want tariffs between each state within the United States? That would be disastrous for the economy. So then why do you want tariffs between countries?”
India’s GDP growth undeterred by US tariffs
The Indian economy expanded at a stronger-than-anticipated rate of 8.2% in the second quarter of FY2026. According to official data, this marks a six-quarter high, up from 7.8% in the first quarter of the fiscal and 5.6% in the same quarter of FY25.
Growth was driven by agriculture, manufacturing, public administration and other services, as well as financial services, real estate, and professional services, supported by a favourable low base.
Commenting on India’s GDP numbers, Chief Economic Advisor (CEA) V Anantha Nageswaran said, “The full year outlook is now 7% or higher… Picture looks one of steady growth into the third quarter.”
“The confluence of stable inflation, sustained public capex, and reform momentum positions the economy to navigate risks, as reflected in upward revisions to FY26 GDP growth projections by various agencies,” he explained.
Nageswaran added that ongoing structural reforms, such as the implementation of Labour Codes, GST rate rationalisation, new Personal Income Tax regime and deregulation initiatives continue to enhance efficiency and competitiveness.
Can the US achieve ‘China-plus’ without India?
Given India’s economic growth despite US tariffs, former American ambassador Geoffrey Pyatt said that US firms “cannot have a China plus one strategy” without having a strong presence in India.
“I would emphasise that all of us have a huge stake in getting the US-India strategic relationship back on track, including the current disagreements on trade issues. And I do believe that energy is going to be key to unlocking that,” he said while speaking to Hindustan Times.
