KATRA: Asserting that a situation of confusion persists in the world after the recent imposition of reciprocal tariffs by the US, NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan on Sunday said India is doing much better than other countries.
He said a clear situation is expected to emerge within the next one or two weeks as there will be negotiations and the duty structure will be stabilized.
Talking with PTI here after paying obeisance at the revered Mata Vaishno Devi Shrine atop Trikuta hills on the occasion of Ram Navami, the National Stock Exchange (NSE) chief said it seems that the Indian share market is doing much better than other countries post the US decision on reciprocal tariff.
"You must have seen the market for the last 2-3 days. America has made a decision on tax, which is applicable to every country in the world. They have also imposed new import duties for India, which is doing better than other countries,” he said.
Chauhan, who met Lt Governor Manoj Sinha on reaching Jammu Saturday evening, said a clear picture about the future strategy of America and the world will be clear in the next week.
“It seems that India's position is a bit heavy compared to other countries,” he said.
"A situation of confusion persists as of now. Many feel that some companies may face more losses. But overall, there will be negotiations and the duty structure will be stabilized. The situation should be clear in the next one or two weeks,” he said.
Key stock market indices Sensex and Nifty declined over 2.5 per cent last week, dragged primarily by weak global cues and renewed concerns over a trade war after the US tariffs.